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After years of investigation, UK authorities have arrested and charged Zhimin Qian, a Chinese fraudster responsible for one of the largest crypto-related scams in history. Qian defrauded over 128,000 victims in China between 2014 and 2017, later fleeing to the UK where she laundered stolen funds through Bitcoin.
🇨🇳 A Chinese fraudster, Zhimin Qian has been convicted in the UK for orchestrating a multi-billion-pound cryptocurrency scam that defrauded over 128,000 victims in China. The seven-year investigation led to the seizure of 61,000 bitcoin, worth more than £5 billion, marking the… pic.twitter.com/80jqmtEQlg
— CDR AFRICA (@cdrafrica) September 30, 2025
$7 Billion Bitcoin Seizure — One of the Largest in UK History
Qian, also known by the alias Yadi Zhang, pled guilty to fraud and money laundering charges. She had converted stolen funds into 61,000 BTC, worth nearly $7 billion at current prices.
UK police confirmed that this is among the largest cryptocurrency seizures ever conducted by the Metropolitan Police. Authorities noted that the scale of the fraud and laundering case is unprecedented in Britain.
A Massive Investment Fraud in China
Between 2014 and 2017, Qian orchestrated a massive investment scheme that tricked over 128,000 investors. After securing the funds, she fled to the UK using a false identity.
In 2018, she began laundering money with the help of an accomplice, Jian Wen, who was convicted last year and sentenced to six years in prison along with a $3 million fine.
What’s Next for Victims and the Seized Bitcoin?
Legal proceedings have started to determine how the seized funds will be handled. Analysts warn that Chinese victims may face difficulties in proving ownership of their stolen assets, which could complicate restitution efforts.
In the UK, seized crypto funds are typically held for two years. If no legitimate claims are proven, the assets may be permanently confiscated by the state.
The case underscores both the growing role of crypto in global financial crime and the increasing sophistication of law enforcement in tracing and recovering cryptocurrencies.
