Chinese Woman Pleads Guilty to $6.7 Billion Bitcoin Fraud in UK Court

Highlights:

• Zhimin Qian admits to orchestrating a $6.7 billion Bitcoin fraud in the UK court.
• Jian Wen helped launder the stolen funds and had over £300 million in Bitcoin seized by authorities.
• Global attacks on cryptocurrency holders have surged in the past six months.

Zhimin Qian, also known as Yadi Zhang, pleaded guilty to acquiring and possessing criminal property linked to cryptocurrency fraud in a UK court. She confessed ownership of 61,000 Bitcoin, worth almost $6.7 billion. Authorities consider the case one of the biggest cryptocurrency seizures in the world.

🇬🇧 £5BN BITCOIN FRAUDSTER PLEADS GUILTY IN UK’S BIGGEST CRYPTO CASE

Zhimin Qian, who ran a Ponzi scheme in China, fled with the loot, and laundered it into bitcoin, just pleaded guilty in London.

Police found 61,000 bitcoin on her devices in a Hampstead mansion, now worth over… pic.twitter.com/goMGVBXeR5

— Mario Nawfal (@MarioNawfal) September 29, 2025

Qian orchestrated a mass investment fraud in China between 2014 and 2017, involving more than 128,000 victims. Officials said she promised high daily returns to lure professionals, retirees, and ordinary investors. Friends or relatives who had already fallen into the scheme advised victims to invest.

The Metropolitan Police launched an inquiry into the fraud in 2018 after receiving intelligence on suspicious online transfers. Qian was a Chinese runaway who had entered the UK with false identification. She tried to launder her money by buying high-value properties.

Detective Sergeant Isabella Grotto described the investigation as a “painstaking, multi-jurisdictional effort spanning seven years.” Officials confirmed that Qian’s arrest represents a major achievement in combating illicit cryptocurrency use.

Bitcoin Fraud Involves Co-Conspirator and Laundering Operations

Qian did not act alone. Jian Wen, a former Chinese takeaway worker, assisted in laundering the stolen Bitcoin. Officials disclosed that Wen acquired a posh North London residence and bought two Dubai residences. The Metropolitan Police seized over PS300 million in Bitcoin linked to Wen.

The fraudulent scheme portrayed Qian’s company as a tech-forward financial firm supporting China’s fintech ambitions. Prosecutors have affirmed that the firm was a mere front to lure investors. In particular, Qian promised investors daily dividends and played on their faith in the booming cryptocurrency market.

The victims were a mix of people of different professions, as well as retired people who were convinced by their friends or relatives. Regulators highlighted that these schemes prey on the excitement over cryptocurrency, at the expense of unsophisticated investors.

Deputy Chief Crown Prosecutor Robin Weyell cautioned that organized criminals are increasingly using cryptocurrencies to conceal and hold money. She said that prosecution teams and law enforcement work together to see that people engaging in Bitcoin fraud are brought to justice.

Authorities have subjected the recovered funds to civil proceedings. Legal experts observed that Chinese investors might struggle to prove rightful ownership of the confiscated assets. The government is still determined to monitor the money and to curb its further misuse.

Physical Attacks on Cryptocurrency Holders Are Rising

In addition to massive fraud, physical assaults on cryptocurrency owners have been on the increase around the world. Authorities documented 35 incidents since February 2025, which represents a 169% increase in six months. The number of total attacks in 2025 was 48, a 33% increase over 2024.

🚨📊| PHYSICAL ATTACKS ON BITCOIN HOLDERS SURGED 169% THIS SEMESTER.

👉 Forbes, using Jameson Lopp’s public incident log, counts 35 new cases in roughly six and a half months, including kidnappings, home invasions and “wrench attacks,” as criminals target visible on-chain… pic.twitter.com/yApzaAzqKT

— βêta 🧢 (@Beta_Crypt0) September 20, 2025

France contributed 14 to the number of incidents, and other nations also reported violent crimes against crypto users. In Cambridge, Canada, a young man was kidnapped at gunpoint and made to transfer money to a cryptocurrency wallet. Meanwhile, analysts attributed the growth in attacks to the growing usage and appreciation of cryptocurrencies.