Mastermind of $7B Chinese fraud scheme pleads guilty

Yadi Zhang, the mastermind behind a $7 billion Chinese investment fraud scheme, has pleaded guilty to criminal charges, Decrypt reported. The plea follows the earlier arrest of Chinese national Jian Wen by UK authorities for helping Zhang launder cryptocurrency. In that case, authorities seized 61,000 BTC, which represents the largest-ever cryptocurrency seizure in the UK.