Bitcoin Loans

Jian Wen’s Role in the Bitcoin Laundering Scandal

Jian Wen emerged as a key accomplice in one of the largest cryptocurrency laundering schemes uncovered in the UK, tied to a massive fraud originating in China. Working alongside Zhimin Qian, known as the “Bitcoin Queen,” Wen helped convert illicit Bitcoin proceeds from Qian’s Ponzi scheme into real-world assets like luxury properties. Convicted in 2024, Wen’s involvement highlighted vulnerabilities in crypto laundering tactics amid rising global scrutiny on digital asset crimes.

Wen, once a takeaway worker in the UK, connected with Qian after she fled China following the 2017 collapse of her fraudulent investment firm, Tianjin Lantian Gerui. Qian’s scheme defrauded over 128,000 victims—many elderly pensioners—out of around £600 million, which she funneled into Bitcoin worth billions today. Wen assisted by managing a wallet holding 150 Bitcoin, valued at £1.7 million at the time, attempting to cash out through high-value London property purchases totaling tens of millions.

Authorities zeroed in on Wen during a Metropolitan Police probe starting in 2018, leading to seizures of 61,000 Bitcoin—the largest crypto haul in history, valued at over £5.5 billion. Despite efforts to evade detection using encrypted devices and false trails, Wen was convicted of money laundering under the Proceeds of Crime Act. In May 2024, Southwark Crown Court sentenced him to six years and eight months in prison.

In January 2025, Wen faced a court order to repay over £3.1 million in illicit gains or risk additional jail time, underscoring the UK’s aggressive push for asset recovery in crypto cases. His case intertwined with Qian’s, who received an 11-year sentence in November 2025 for related charges, and Seng Hok Ling, jailed for nearly five years. The saga marked a milestone in international cooperation between UK and Chinese authorities against cross-border crypto fraud.

Wen’s conviction serves as a stark reminder of Bitcoin’s dual role in innovation and crime, fueling debates on regulation as seized assets—now worth $6.3 billion—prompt budget plans and victim compensation efforts. Prosecutors hailed the outcome as a deterrent, with ongoing confiscation proceedings aiming to strip fraudsters of their windfalls permanently. The Bitcoin laundering network’s dismantling reinforces the evolving legal arsenal against cryptocurrency-fueled financial crime.

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