The main suspect in the money laundering case involving over 60,000 bitcoins was sentenced to 6 years in prison in the first trial

ChainCatcher news, according to Sky News, the Southwark Crown Court in London has ruled in the second instance that 42-year-old Chinese national Qian Zhimin is guilty of money laundering and will serve more than 6 years in prison.

Previously, Qian Zhimin attempted to purchase multiple luxury properties in London, including a £23.5 million seven-bedroom mansion in Hampstead and a £12.5 million mansion with a private cinema and gym, which drew the attention of the police.

Investigations revealed that over £3 billion worth of 61,000 bitcoins were found in a digital wallet, setting a record for the largest cryptocurrency seizure in the UK. Currently, there are still 23,300 bitcoins in circulation, valued at over £1 billion.

It is alleged that these bitcoins originated from a £5 billion investment fraud case carried out in China from 2014 to 2017, with the funds being transferred abroad and used to purchase cryptocurrencies. Qian Zhimin did not directly participate in the fraud but acted as a "front" to help disguise the source of the laundered funds.