- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
UK Sanctions Bust "Professional Money Launderer" Ordered to Pay Around $7.6 Million Fine
BlockBeats News, January 24th: The UK Crown Prosecution Service (CPS) has ordered that Sen Hok Ling, a key "middleman" in the Qingzhimin Bitcoin fraud case and known as a "professional money launderer," must pay £5 million (about $7.6 million) to the UK authorities within three months, or face an additional maximum sentence of 8 years.
CPS noted that Ling had assisted the convicted fraudster Qingzhimin (Zhimin Qian, also known as Yadi Zhang) in transferring funds. Between February and April 2024, Ling received a total of 83.7 bitcoins and cashed out through a UAE bank account and third-party channels.
Ling had pleaded guilty to a money laundering charge in November 2025 and was sentenced to 4 years and 11 months in prison. Qingzhimin, on the other hand, was sentenced to 11 years and 8 months for two money laundering charges. Furthermore, the final disposal of Qingzhimin's 61,000 bitcoins (the largest cryptocurrency seizure case in UK history) is still undergoing related civil proceedings. In the future, the funds may be used in whole or in part to compensate victims, with the remainder potentially going to the UK Treasury.
You may also like
Key Market Information Discrepancy on February 2nd – A Must-See! | Alpha Morning Report
Bitcoin continues to plummet, will Strategy be forced to sell?
Is Moltbook Really a Step Forward, Coinbase's Face-off with Wall Street, What's the Overseas Crypto Community Talking About Today?
Liquidity Crisis Plunge: Why Did Only Bitcoin Fail to Recover?
Is the Crypto Industry Really in Trouble with the Market This Bad?
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…
XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…
Why is Trump’s Fed Chair Pick Kevin Warsh Seen as Bad News for Precious Metals, Commodities, Bitcoin, and Equities?
Key Takeaways: Kevin Warsh, once appointed, is expected to take a more hawkish stance on monetary policy, which…
Who Is Kevin Warsh? How His Fed Chair Odds Are Influencing Bitcoin Markets
Key Takeaways Kevin Warsh, a former Federal Reserve governor, is becoming a strong candidate for the next Fed…
Strategy (MSTR) Stock: Michael Saylor’s Bitcoin Bet Goes Red But Here’s The Twist
Key Takeaways Strategy’s Bitcoin investment has dipped below its average purchase price, highlighting market volatility. No immediate financial…
Bitcoin Hashrate Falls 12% After US Winter Storms Hit Miners
Key Takeaways: The total network hashrate for Bitcoin has declined by approximately 12% since November 11, marking the…
Gold’s Six-Month Rally Against Bitcoin Shows Parallels to 2019 Cycle
Key Takeaways Gold has consistently outperformed bitcoin over the last six months, despite being typically considered the haven…
XRP Price Outlook for 2026: Is Bitcoin Hyper Part of Long Term Themes?
Key Takeaways The potential future of XRP in 2026 is significant, with various factors influencing its growth and…
Bitcoin Price Prediction: BTC Slips to $78K as Gold and Silver Plummet – Is the Downtrend Settling?
Key Takeaways Bitcoin and traditional safe havens like gold and silver experience synchronized declines in a volatile market…
Bitcoin Price Prediction: $50B Volume Drops 40% as BTC Tests $83K – Is a Breakdown Next?
Key Takeaways: Bitcoin’s trading volume has seen a significant decline, indicating cautious trader behavior. Bitcoin prices remain under…
Bitcoin’s 7% Drop to $77K Might Indicate Cycle Low, Analyst Suggests
Key Takeaways: Bitcoin has experienced a significant drop from $77,000 to around $78,600 after a modest rebound. Analyst…
Tom Lee–Linked Bitmine Faces Over $6B in Unrealized Losses on ETH Reserve
Key Takeaways: Bitmine Immersion Technologies reports significant unrealized losses exceeding $6 billion from its Ether reserves. The firm…
Key Market Information Discrepancy on February 2nd – A Must-See! | Alpha Morning Report
Bitcoin continues to plummet, will Strategy be forced to sell?
Is Moltbook Really a Step Forward, Coinbase's Face-off with Wall Street, What's the Overseas Crypto Community Talking About Today?
Liquidity Crisis Plunge: Why Did Only Bitcoin Fail to Recover?
Is the Crypto Industry Really in Trouble with the Market This Bad?
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
App