-
Back to menu
Prices
-
Back to menu
-
Back to menu
Indices -
Back to menu
Research
-
Back to menu
Events -
Back to menu
Sponsored
-
Back to menu
Videos -
Back to menu
-
Back to menu
-
Back to menu
Webinars
Select Language
Qian defrauded more than 128,000 victims in China between 2014 and 2017, subsequently storing her spoils in BTC and fleeing to the U.K
By Jamie Crawley|Edited by Nikhilesh De
Sep 30, 2025, 3:36 p.m.
- The leader of a fraudulent bitcoin operation pleaded guilty in a U.K. court for her role in a 5.1 billion pound ($6.9 billion U.S.) scam.
- Qian defrauded more than 128,000 victims in China between 2014 and 2017, subsequently storing her spoils in BTC and fleeing to the U.K.
- The Metropolitan Police referred to the bust of 61,000 BTC as “what is believed to be the single largest cryptocurrency seizure in the world.”
The leader of a fraudulent BTC$113,293.84 operation pleaded guilty in the U.K. Crown Court for her role in the 5.1 billion pound ($6.9 billion) scam.
Chinese national Zhimin Qian, 47, was convicted for acquiring and possession of criminal property, namely cryptocurrency, the Metropolitan Police announced on Monday.
STORY CONTINUES BELOW
Qian, also known as Yadi Zhang, defrauded more than 128,000 victims in China between 2014 and 2017, subsequently storing her spoils in BTC and fleeing to the U.K., according to the police.
She attempted to launder the bitcoin by purchasing property with the help of her assistant Jian Wen. Wen, 42, was sentenced to six years and eight months in prison for her role in the operation last year.
The Metropolitan Police referred to the bust of 61,000 BTC as “what is believed to be the single largest cryptocurrency seizure in the world,” in Monday’s statement.
There were reports earlier this year that the U.K. government may look to sell the BTC seized from this case, similar to what German authorities did last year, which applied considerable selling pressure to bitcoin’s price at the time.
More For You
By Will Canny, AI Boost|Edited by Sheldon Reback
4 hours ago
The license win will allow IG to expand its crypto services and cement its position as a multi-asset trading platform.
What to know:
- IG Group becomes the first U.K.-listed company added to the FCA’s crypto register, clearing the way for expanded crypto services.
- Customers will soon be able to transfer crypto in and out of IG directly, with access to a wider range of tokens and improved pricing.
- The license strengthens IG’s bid to be a one-stop shop for retail investors, adding crypto to its existing suite of tradable assets.
