Chinese Fraudster Convicted in UK's Largest Bitcoin Money Laundering Case: $6.7 Billion Cryptocurrency Scheme Exposed

Zhimin Qian, a 47-year-old Chinese national also known as Yadi Zhang, has been convicted in London for orchestrating one of history's largest cryptocurrency fraud schemes. According to BBC reports, Qian pleaded guilty at Southwark Crown Court to illegally acquiring and possessing over 61,000 bitcoins valued at approximately $6.7 billion.

Between 2014 and 2017, Qian executed a massive investment scam that defrauded more than 128,000 people in China. The Metropolitan Police stated that she subsequently converted the stolen funds into bitcoin to obscure their illegal origins.

Victims of the scheme reportedly knew very little about Qian, who gained the nickname "the goddess of wealth" among investors.

UK authorities began investigating Qian's illicit activities in 2018 following a tip regarding suspicious cryptocurrency transfers. After fleeing China using falsified documents, Qian entered the United Kingdom where she attempted to launder the stolen assets by purchasing high-end real estate.

Police officials described the investigation as an exceptionally complex, cross-border operation spanning seven years. Qian was ultimately apprehended after evading law enforcement for years.

Her associate, Jian Wen, previously a takeaway worker, received a sentence of six years and eight months for assisting in laundering the stolen cryptocurrency. Wen's lifestyle transformed dramatically, shifting from modest living conditions to renting an expensive North London residence and acquiring two properties in Dubai.

Detective Sergeant Isabella Grotto, who headed the Metropolitan Police investigation, stated: "Today marks the result of years of painstaking work. When our team located Zhimin Qian, she had been evading justice for five years, and her arrest triggered a complex investigation requiring evidence from multiple jurisdictions and the careful review of thousands of documents. I am immensely proud of the investigation team and our partners who have worked tirelessly on this case."

According to the Crown Prosecution Service, Wen claimed to have purchased properties on behalf of a Chinese employer but failed to provide credible evidence regarding the bitcoin's legitimate source. Authorities eventually confiscated cryptocurrency worth more than 300 million pounds from her possession.