Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
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

0

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.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Saudi Arabia's Vision 2030 Encounters Houthi Challenges Amidst Growth in Trade and Technology

- Saudi Arabia strengthens regional trade ties with Egypt, aiming to boost 86% of Egyptian firms' trade under Vision 2030, focusing on tech and energy sectors. - Chinese aesthetic tech firm Aphranel showcases innovations at Saudi medical congress, highlighting growing Middle East market integration. - Houthi threats in Yemen persist, raising regional security risks that could hinder Saudi economic ambitions and foreign investment goals. - Saudi-Egyptian investment agreements aim to enhance legal frameworks

Bitget-RWA2025/11/30 16:44
Saudi Arabia's Vision 2030 Encounters Houthi Challenges Amidst Growth in Trade and Technology

"Retail's Digital Revolution: Black Friday's 9.1% Online Spike Signals New Consumer Era" <div>Retail's Digital Revolution: Black Friday's 9.1% Online Spike Signals New Consumer Era</div> 改写: <div>The Digital Shift in Retail: Black Friday Sees 9.1% Surge in Online Sales, Marking a New Age for Shoppers</div>

- U.S. online Black Friday spending hit $11.8B in 2025, a 9.1% surge driven by AI tools and social media campaigns. - In-store traffic fell 3.6% as shoppers spread purchases across extended promotions, while tariffs pushed average prices up 7% despite 1% lower order volumes. - Holiday sales are projected to reach $1.01-$1.02 trillion, reflecting a 3.7-4.2% growth but slower than 2023's 4.3% increase. - Scams targeted 31% of U.S. adults, while grassroots boycotts against Trump-linked retailers emerged, thou

Bitget-RWA2025/11/30 16:44
"Retail's Digital Revolution: Black Friday's 9.1% Online Spike Signals New Consumer Era"

<div>Retail's Digital Revolution: Black Friday's 9.1% Online Spike Signals New Consumer Era</div>

改写:

<div>The Digital Shift in Retail: Black Friday Sees 9.1% Surge in Online Sales, Marking a New Age for Shoppers</div>

Bitcoin News Today: Surging Institutional Interest Pushes BlackRock’s Bitcoin ETF to $70 Billion

- BlackRock's IBIT bitcoin ETF surged to $70.7B in 341 days, generating $245M annual fees as top revenue driver. - U.S. spot bitcoin ETF approval fueled institutional demand, with IBIT capturing 3% of total bitcoin supply. - BlackRock increased its own IBIT stake by 14%, despite $2.34B November outflows deemed "normal" for retail-driven products. - ETF resilience shown through $21.1M November 27 inflow, reinforcing bitcoin's strategic role amid macroeconomic uncertainties.

Bitget-RWA2025/11/30 16:44

Hyperliquid News Today: Hayes-Hon Dispute Highlights the Rift Between Crypto Fundamentals and Market Hype

- Monad's MON token collapsed 40% in three days, triggering $6M+ liquidations on HyperLiquid as high-FDV projects face volatility risks. - Arthur Hayes criticized MON's 90% locked supply as a "hot potato" scheme, while founder Keone Hon defended its C++/Rust architecture and 1-second finality. - Whale wallets lost $1.9M-$4.17M in leveraged positions, highlighting systemic risks in low-liquidity tokens amid spoofed transfers and declining trading volume. - The debate underscores crypto's infrastructure vs.

Bitget-RWA2025/11/30 16:28
Hyperliquid News Today: Hayes-Hon Dispute Highlights the Rift Between Crypto Fundamentals and Market Hype