Sen Hok Ling, a Malaysian national described by the CPS as a “professional money launderer,” received 83.7 BTC from Qian between February and April 2024, which he cashed out in United Arab Emirates-based bank accounts and through third parties who converted it to cash.
“We have today secured a Confiscation Order against him of over £5 million, which he must pay within 3 months or risk being returned to prison for an additional sentence of eight years.”
She arrived in the UK with a passport under the name Yadi Zhang and set about reinventing herself. She tried to cash out the Bitcoin and purchase high-end London properties but found herself blocked by know-your-customer requirements, ultimately renting a $21,000-a-month mansion in Hampstead Heath, London instead.
Her machinations were, however, cut short when she was arrested in York in April 2024. Raids on her Hampstead mansion uncovered 61,000 BTC, the largest crypto seizure in UK history.
The UK’s $5.4 billion Bitcoin haulNick Harris, CEO at Crypto Asset Recovery Firm CryptoCare, told Decrypt that the UK’s Proceeds of Crime Act 2002 empowers authorities to seize funds from fraud even if they originate overseas. “The law allows the UK to retain such funds, typically directing them to the Treasury or law enforcement,” he said.
Following the fraudsters’ sentencing, Harris previously suggested the UK could establish a strategic reserve with the funds, “strengthening its position in the global crypto economy while supporting victims through separate compensation mechanisms.”
