On-chain detective uncovers 28,555 BTC potentially linked to a historic crypto fraud
Blockchain investigator Specter has identified 28,555 BTC (≈$1.8B) that may be connected to one of the largest alleged cryptocurrency fraud cases ever.
The investigation began after a dormant wallet moved 1,020 BTC following 8 years of inactivity. Tracing the funds led to addresses associated with Zhimin Qian, whose case previously resulted in the UK seizing 61,000 BTC.
Interestingly, the newly identified wallets have remained almost completely inactive since June 2021.
It's still unclear whether these coins are controlled by the original owners, another custodian, or are already under law enforcement surveillance. For now, the massive stash remains one of the biggest dormant Bitcoin mysteries on-chain.
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240August 4, 2026 38.9K 352
