A woman responsible for orchestrating the biggest cryptocurrency scam in history, defrauding more than 100,000 individuals, has been sentenced to 11 years and eight months in prison. Zhimin Qian, also known as Yadi Zhang, engineered a £5.5 billion theft, resulting in the largest Bitcoin seizure by law enforcement.
After a significant investigation that included the largest confirmed cryptocurrency seizure globally and affected 128,000 victims, the woman, nicknamed the Goddess of Wealth, was apprehended in York after evading authorities for nearly five years. The Metropolitan Police conducted a seven-year probe into international money laundering, leading to the arrest of Seng Hok Ling, a collaborator who received a sentence of four years and 11 months.
During a raid at her six-bedroom residence near Hampstead Heath in north London, police uncovered over 61,000 Bitcoin in digital wallets. Qian pleaded guilty to money laundering charges at Southwark Crown Court.
Following the sentencing, Sadiq Khan, the Mayor of London, emphasized the importance of combating cryptocurrency fraud to curb money laundering and organized crime. Security Minister Dan Jarvis commended the work of law enforcement in ensuring justice prevailed and reiterated the government’s commitment to recovering stolen assets and enhancing public safety.
Qian executed a large-scale fraud in China between 2014 and 2017, deceiving more than 128,000 victims. She subsequently fled to the UK under an alias, converting some of the illicit funds into cash, jewelry, and Bitcoin. Investigations initiated in 2018 led to the recovery of over 61,000 Bitcoin from Qian, valued at approximately £5 billion, marking the largest confirmed crypto seizure globally. Ongoing efforts are in place for the civil recovery of the seized Bitcoin.
