A Chinese woman, Zhimin Qian, known as the ‘cryptoqueen,’ has been sentenced to over 11 years in prison by a UK court for orchestrating a massive Bitcoin fraud scheme. The 47-year-old defrauded more than 128,000 people in China through a Ponzi scheme, amassing 5 billion pounds ($6.6 billion) in Bitcoin. The UK police investigation led to the largest cryptocurrency seizure in the country, recovering devices containing 61,000 Bitcoin. Qian, who lived an extravagant lifestyle in Europe, was arrested in April 2024 after years of evading authorities. She had been staying in luxury hotels, purchasing fine jewelry, and attempting to buy multimillion-pound properties in London. Qian fled to the UK under a fake identity after attracting the attention of Chinese authorities. Her accomplice, Seng Hok Ling, a Malaysian national, was also sentenced to four years and 11 months for aiding in the transfer and laundering of the cryptocurrency. Judge Sally-Ann Hales described Qian’s actions as driven by ‘pure greed,’ highlighting her disregard for the victims whose life savings and pensions she had stolen.
Chinese ‘cryptoqueen’ who scammed thousands jailed in UK over Bitcoin stash worth $6.6 billion
