The main suspect in the 60,000 Bitcoin money laundering case, Qian Zhimin, only acknowledges two charges, and his lawyer claims that "the significant appreciation of cryptocurrency can compensate for the victims' losses."

ChainCatcher news, according to Caixin, details of the trial of the main suspect Qian Zhimin in the "60,000 BTC money laundering case" have been disclosed, indicating that the cross-border recovery efforts behind Qian Zhimin's guilty plea have just begun, and Sino-British judicial cooperation faces more arduous tests. Substantive justice is still on the way, as Qian Zhimin's guilty plea only involves two charges from the UK Crown Prosecution Service: obtaining criminal property (cryptocurrency) and possessing and transferring criminal property (cryptocurrency).

Qian Zhimin's defense lawyer Roger Sahota changed his previous not guilty defense stance and stated, "She pleaded guilty today, hoping to bring some comfort to the investors who have been waiting for compensation since 2017, and to assure them that the significant increase in the value of cryptocurrency means there are sufficient funds to repay the losses," but the message he intended to convey is somewhat thought-provoking.

Yesterday, a Chinese police officer personally went to London to testify, and several Chinese victims will testify remotely via video in a court in Tianjin, China. This case involves issues of cross-border money laundering and the recovery of crypto assets, and is seen as a milestone test for the regulation and governance of cross-border financial crimes in the digital currency era. Qian Zhimin is accused of illegally raising approximately 43 billion yuan through Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. with Ponzi scheme-like "investment and financial management" products from 2014 to 2017, affecting 130,000 victims.