Bitcoin Details in the $5.6 Billion Fraud Operation

The court in London sentenced a woman who laundered money with Bitcoin in a billion-dollar fraud case.

Jian Wen, 42, who has UK and Chinese citizenship, was sentenced to six years, eight months in prison for laundering a total of 150 Bitcoins, worth $10.3 million at current prices.

It was learned that these Bitcoins were linked to a larger fraud operation totaling $5.6 billion. Authorities seized 61 thousand Bitcoins in this operation.

Wen claimed that he laundered these funds on behalf of a Chinese woman between 2017 and 2022 and that she was the one who perpetrated this fraud. Wen said he did not know the actual source of these funds.