UK authorities are seeking to recover $21.7 million from a Malaysian involved in a large-scale Bitcoin fraud scheme, Southwark Crown Court was told on Tuesday.
The accused, Hok Seng Ling, 47, pleaded guilty to money laundering charges.
The plea came a day after Zhimin Qian, a 47-year-old Chinese businesswoman also known as Yadi Zhang, admitted her key role in the multi-billion pound fraud scheme.
According to court testimony, Ling, who lives in Derbyshire, England, acted as a broker for Qian's cryptocurrency transactions. Confiscation proceedings are currently underway to seize millions of pounds in the proceeds of crime.
The total amount of the losses is expected to be finalised when the pair are sentenced on November 10 and 11.
On Monday, Qian also pleaded guilty to charges of obtaining and possessing the proceeds of crime, namely cryptocurrency. The case is linked to what is believed to be the world's largest single cryptocurrency heist, worth around £5.5 billion.
Police said Qian defrauded more than 128,000 victims through an investment scheme in China between 2014 and 2017, before fleeing to the UK and attempting to launder the proceeds by buying property using Bitcoin.
Last year, another accomplice, Jian Wen, was jailed for six years and eight months after being found guilty of aiding the operation.
Security Minister Dan Jarvis said money laundering erodes trust, undermines the economy and supports serious organised crime. The verdict made it clear that the UK would not be a safe haven for criminals and their illicit profits.
Prosecutors said Ling had taken over Wen's role after his arrest. Investigators found Wen had previously helped arrange the transfer of a crypto wallet containing 150 Bitcoins worth £1.7 million at the time.
Ling is believed to have been Qian's assistant in transferring the funds into cryptocurrency.
The pair are now being held until sentencing in November.
