Cryptocurrency fraudster from China stole $ 6.4 billion in bitcoins

The Southwark Court in London has sentenced Chinese businesswoman Zhiming Qian, known as the «crypto-queen», to 11 years and 8 months in prison for laundering $ 6.4 billion through bitcoin BTC $91,069.05 Mezo Wrapped BTC 4.38% Market capitalization $43.43 million VOL. 24 hours $2.22 billion . The investigation called her «the architect of a criminal scheme» motivated by «pure greed.» This was the largest cryptocurrency money laundering case in the history of the UK.

According to law enforcement, Qian converted the money of thousands of Chinese pensioners who invested in her fictitious company Bluesky Greet into digital assets. The business promised a 200% return and was allegedly engaged in mining and the development of high-tech devices, but in fact was a well-thought-out financial scam.

After fleeing China in 2017, Zhiming Qian settled in the upscale Hampstead neighborhood of London, renting a mansion for £17,000 a month. In 2018, the British police found a crypto wallet with 61,000 BTC in it and conducted a record-breaking confiscation of digital assets. In London, Qian maintained the image of a wealthy collector, using assistants to exchange cryptocurrency for cash and buy real estate. Her accomplice Wen Jian is already serving a six-year sentence on similar charges.

The affected Chinese investors have announced their intention to seek compensation through the British courts. At the same time, lawyers note that it will be difficult to prove the connection between the stolen funds and Qian’s specific transactions, as the money was passed through a network of intermediaries. Since the convict’s arrival in the UK, the bitcoin rate has increased more than twenty times, so the confiscated assets are now estimated at billions of dollars.

Judge Hales emphasized that the case of Zhimin Qian demonstrates how vulnerable victims of pyramid schemes remain even in the digital age. The civil proceedings to distribute the seized funds are due to begin in 2026. If no one claims ownership, the crypto assets will be transferred to the UK government.