A woman responsible for orchestrating the largest cryptocurrency scam in history, defrauding more than 100,000 individuals, has received an 11-year and eight-month prison sentence. Zhimin Qian, also known as Yadi Zhang, engineered a £5.5 billion theft that resulted in the largest-ever Bitcoin seizure by law enforcement.
Following a significant investigation that led to the single largest confirmed cryptocurrency seizure globally and affected 128,000 victims, the perpetrator, dubbed the “Goddess of Wealth,” was apprehended after evading capture for nearly five years. The Metropolitan Police conducted a thorough seven-year probe into international money laundering, resulting in the arrest of Seng Hok Ling, who received a sentence of four years and 11 months for his involvement in the criminal scheme.
During a raid at her six-bedroom residence near Hampstead Heath in north London, law enforcement discovered over 61,000 Bitcoin stored in digital wallets, which Qian confessed to using for money laundering activities in Southwark Crown Court.
In response to the case, Sadiq Khan, the Mayor of London, emphasized the significance of combatting cryptocurrency fraud, international money laundering, and organized crime. Security Minister Dan Jarvis commended the Metropolitan Police and Crown Prosecution Service for their efforts in ensuring justice was served and highlighted the government’s commitment to recovering stolen assets to enhance community safety.
Between 2014 and 2017, Qian executed a large-scale fraud operation in China, defrauding more than 128,000 victims before fleeing to the UK with illicitly obtained funds. Investigators diligently compiled evidence against her after receiving intelligence in 2018 regarding attempts to liquidate criminal assets in London, resulting in the recovery of over 61,000 Bitcoin worth approximately £5 billion – marking the world’s largest confirmed cryptocurrency seizure. Ongoing civil proceedings aim to recover the assets seized.
