Bitcoin Fixer Convicted for Role in Money Laundering Scheme

$7 Billion Illicit Bitcoin Horde: Malaysian National Latest to Plead Guilty Mathew J. Schwartz (euroinfosec) • October 1, 2025

A Malaysian national pleaded guilty Tuesday in an English courtroom to supporting an investment fraud scammer who converted stolen assets into a cryptocurrency treasure trove now worth $7.1 billion.

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Hok Seng Ling, 46, entered his plea Tuesday at London's Southwark Crown Court, admitting that he transferred criminal property in the form of cryptocurrency.

The Derbyshire, England-based man was due to stand trial alongside co-defendant Zhimin Qian, a 47-year-old Chinese national - also known as Yadi Zhang - who was charged with fraudulently obtaining cryptocurrency. Qian targeted Chinese investors but fled the mainland in July 2017 after local authorities began an investigation (see: Fraudster Tied to $6.9 Billion Bitcoin Hoard Pleads Guilty ...