The main suspect in the 60,000 Bitcoin money laundering case, Qian Zhimin, has pleaded guilty and is currently in custody awaiting sentencing.

On September 30, according to BBC reports, the main suspect in the money laundering case involving 60,000 Bitcoins, Qian Zhimin, pleaded guilty yesterday at the Southwark Crown Court in London, admitting to illegal acquisition and possession of crypto assets related crimes. Between 2014 and 2017, she led a large-scale scam in China, defrauding over 128,000 victims, and stored the proceeds in Bitcoin assets. Qian Zhimin had been "fleeing from justice" for five years before her arrest, using false documents to escape China and enter the UK, attempting to launder stolen funds by purchasing properties. Qian Zhimin is currently detained awaiting sentencing, with the date yet to be determined. Yesterday, Chinese police officers involved in the case traveled to London to testify in court, and several Chinese victims will testify remotely via video in a court in Tianjin, China. This case involves issues of cross-border money laundering and the recovery of crypto assets, regarded as a milestone test for regulatory and governance challenges of cross-border financial crimes in the digital money era. Qian Zhimin is accused of illegally raising about 43 billion yuan through Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. with Ponzi scheme-like "investment and financial management" products from 2014 to 2017, with victims reaching 130,000.