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UK Convicts Chinese Fraudster, Seizes $6.7B in Bitcoin

UK Convicts Chinese Fraudster, Seizes $6.7B in Bitcoin

TheCryptoUpdatesTheCryptoUpdates2025/10/04 14:36
By:Shivi Verma

British cops just closed the book on what might be the biggest crypto seizure ever after spending seven years chasing down a Chinese woman who scammed over 128,000 people. Zhimin Qian , who also went by Yadi Zhang, finally admitted in court that she stole a fortune and tried hiding it in Bitcoin.

From 2014 to 2017, Qian was running this huge fraud scheme back in China that ripped off tons of regular people. When things got hot, she bailed out of the country using fake paperwork and landed in the UK thinking she could clean the money by buying real estate.

The Metropolitan Police started digging into this back in 2018 after someone tipped them off about weird money movements. They ended up grabbing 61,000 Bitcoin from her, which is worth over $6.7 billion now. The detective running the case said working with Chinese cops to build evidence against her was totally unprecedented.

Qian had help from another woman named Jian Wen who got locked up last year for moving around a crypto wallet stuffed with 150 Bitcoin. Wen went from living above a takeout restaurant to some fancy place in North London, which is basically what got investigators sniffing around in the first place.

Qian’s sitting in jail right now waiting to find out how long she’ll be spending behind bars. The sentencing date hasn’t been set yet.

Conclusion

British authorities convicted Zhimin Qian after a seven-year investigation resulted in a $6.7 billion Bitcoin seizure linked to a fraud scheme targeting 128,000 Chinese victims.

Also Read: Bitcoin Surges

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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