Hok Seng Ling, 47, admitted money laundering at London's Southwark Crown Court. Speaking through an interpreter, he just said the word "guilty".

His plea came a day after mastermind Zhimin Qian, a Chinese businesswoman also known as Yadi Zhang, admitted a leading role in the multi-billion pound fraudulent Bitcoin scheme.

Ling, who had been living in Derbyshire in central England, had dealt in cryptocurrency on behalf of Qian with confiscation proceedings now under way to try to recover millions of pounds, the court heard.

The amount could be adjusted when the two are sentenced at a two-day hearing set for November 10 and 11.

Qian, also 47, on Monday pleaded guilty to acquiring and possessing criminal property, namely cryptocurrency, following what is believed to be the single largest cryptocurrency seizure in the world, now worth about pound5.5 billion.

Police said she had defrauded over 128,000 victims through a scheme in China between 2014-2017.

She went on to store the illegally obtained funds in Bitcoin assets before fleeing to the UK and attempting to launder the proceeds by purchasing property.

Last year, as part of the same seven-year investigation, a third person, accomplice, Jian Wen, was jailed for six years and eight months for her role in the criminal operation.

"Money laundering erodes trust, undermines our economy, and fuels the rise of serious organised crime," Security Minister Dan Jarvis said.

"This outcome sends a clear signal: the UK will never be a safe haven for criminals and their ill-gotten gains."

The prosecutor on Tuesday said Ling took over Wen's role after her arrest.

Met investigators say they proved Wen had been involved in facilitating the movement of a cryptocurrency wallet, which contained 150 Bitcoin. At the time this was valued at pound1.7 million.

Ling is believed to have become Qian's assistant, helping to move money into cryptocurrency.

Ling and Qian will remain in custody until the sentencing.