Woman admits UK Bitcoin fraud charges after ' largest' crypto seizure
5 hours ago
- #bitcoin-fraud
- #money-laundering
- #cybercrime
- Zhimin Qian, also known as Yadi Zhang, orchestrated a multibillion-pound bitcoin fraud in China between 2014 and 2017, affecting 128,000 victims.
- UK authorities seized 61,000 bitcoins (worth over £5bn) from Qian in 2018, marking the largest single cryptocurrency seizure globally.
- Qian pleaded guilty to acquiring and possessing criminal property in cryptocurrency and fled China using a fake passport in 2017.
- Jian Wen, a co-conspirator, was jailed for six years and eight months for laundering money through property purchases.
- Wen claimed ignorance of the fraud's origins, stating Qian duped her into believing they ran a legitimate jewellery business.
- A judge ordered Wen to repay over £3m or face additional jail time, with recoverable assets including bitcoin and Dubai properties.
- The Met's economic crime unit praised the investigation's global cooperation and meticulous evidence gathering.