Chinese language Crypto Queen Qian Zhimin Sentenced To 11 Years

Qian Zhimin, dubbed the “Chinese language Crypto Queen,” has been sentenced to 11 years and eight months in jail within the UK for cash laundering billions stolen from Chinese language pensioners that she funneled into Bitcoin.

Decide Sally-Ann Hales informed Southwark Crown Court docket that Qian had masterminded the scheme “from its inception to its conclusion,” calling her motive “considered one of pure greed.”

The 44-year-old raised greater than £4.2 billion from over 120,000 traders, claiming her firm developed well being tech and mined crypto, a entrance police say hid an enormous fraud. The stash is now price about £5 billion.

Zhimin fled China in 2017 as police started investigating and settled in a £17,000 ($22,700)-a-month Hampstead Heath mansion underneath a faux id. A subsequent police raid uncovered tens of hundreds of Bitcoin in what’s believed to be the UK’s largest crypto seizure.

“The extra data we obtained about her involvement… that she was truly the chief of the fraud, not only a decrease down member… it turned apparent that sure she’s very intelligent, she’s very switched on, very manipulative, capable of persuade lots of people,” Detective Constable Joe Ryan from the Metropolitan Police Service mentioned.

Zhimin Fled To The UK After Chinese language Police Launched An Investigation

Qian fled to the UK utilizing a faux passport. She posed as a rich antiques and diamond heiress when searching for to hire the Hampstead Heath mansion. She then employed a former takeaway employee by the title of Wen Jian as her private assistant, who she would ask to commerce crypto into different belongings comparable to money and property.

The home that Zhimin had rented in Hampstead Heath (Supply: Metropolitan Police)

It was throughout a seek for belongings that could possibly be purchased with the stolen Bitcoin that Zhimin made it onto authorities’ radar. It was an tried buy of a big property in Totteridge Frequent that was flagged when Jian did not account for her boss’s wealth. 

That triggered a police investigation, and a raid on Qian’s Hampstead property. It led to what’s believed to have been the most important crypto seizure within the UK’s historical past, with police discovering arduous drives and laptops that saved tens of hundreds of Bitcoin.

It was then that authorities concluded that Zhimin was the mastermind behind the rip-off. 

Zhimin Promised Victims They’d Get Wealthy ‘Mendacity Down’

Qian had informed her traders that they may “get wealthy by mendacity down. 

In accordance with her assistant, who appeared at her personal trial final 12 months and was sentenced to 6 years for cash laundering, Qian had spent most of her days mendacity in mattress, procuring on-line, and gaming. 

Cryptoqueen BUSTED: Chinese language fraudster Zhimin Qian sentenced to 11+ years after UK seizes £5B+ in Bitcoin.

She had a hidden treasure map to her wallets. pic.twitter.com/77qkgG8ukU

— ₿ ♛ (@BaylenLatona) November 11, 2025

Nonetheless, she had drawn up a six-year plan for her subsequent cons, along with her diary notes outlining plans to discovered a nationwide financial institution, purchase a Swedish fort, and even ingratiate herself to a British duke. 

To cap all of it, Qian aimed to grow to be the queen of Liberland, an unrecognized microstate on the Croatian-Serbian border, by 2020.

Victims Nonetheless Hope For Some Money Again

Victims of her scheme have mentioned they hope to get not less than a few of their money again from the UK authorities. 

“If we will collect all of the proof collectively, we hope the UK authorities, the Crown Prosecution Service and the Excessive Court docket can present compassion,” a sufferer referred to as Mr Yu informed the BBC. “As a result of now, it’s solely that haul of Bitcoin [cryptocurrency] that may return us a bit of little bit of what we misplaced.”

Yu and his spouse had initially invested 60,000 yuan (£6,295) every after they had been informed they might obtain a 200% revenue over 2.5 years. 

Qian drip-fed the traders some returns within the early days to persuade them the undertaking was authentic, prompting Yu and his spouse to take out loans to take a position nonetheless extra in her fraudulent schemes.

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