60,000 Bitcoin Money Laundering Trial: Qian Zhimin Faces 12-Week Hearing at London’s Southwark Crown Court in Landmark Sino‑British Asset Recovery Case

According to COINOTAG News citing Caixin, former executive Qian Zhimin appears at Southwark Crown Court today in a case involving the alleged laundering of roughly 60,000 Bitcoin. The proceedings feature Chinese investigators attending in London and remote victim testimony from a Tianjin court, highlighting practical cross-border judicial cooperation on crypto-related financial crime.

The trial, reported to be scheduled for up to 12 weeks, centers on an alleged Ponzi-style fundraising scheme run by Tianjin Tian Rui Electronic Technology Co., Ltd., said to have raised about 43 billion yuan and affected some 130,000 victims. Authorities frame the matter as a test of mechanisms for cross-border money laundering prevention and cryptocurrency asset recovery under existing regulatory frameworks.