A woman responsible for orchestrating the biggest cryptocurrency fraud in history, which victimized more than 100,000 individuals, has been sentenced to 11 years and eight months in jail. Zhimin Qian, also known as Yadi Zhang, led a £5.5 billion scam that resulted in law enforcement seizing their largest-ever amount of Bitcoin.
Following a significant investigation that led to the world’s largest confirmed cryptocurrency seizure affecting 128,000 victims, the woman, dubbed the “Goddess of Wealth,” was apprehended in York after evading authorities for nearly five years. The Metropolitan Police conducted a thorough seven-year inquiry into international money laundering, leading to the conviction of Seng Hok Ling, her accomplice, who received a four-year and 11-month sentence.
During a raid on her residence in north London, authorities uncovered over 61,000 Bitcoin in digital wallets. Qian confessed to money laundering offenses in court. Sadiq Khan, the Mayor of London, praised the Met’s actions against cryptocurrency fraud, emphasizing the importance of collaborative efforts to combat illegal activities involving virtual currency.
Security Minister Dan Jarvis highlighted the risks associated with money laundering and commended law enforcement for ensuring justice was served. Qian’s fraudulent activities spanned from 2014 to 2017 in China, defrauding a large number of victims before fleeing to the UK with illicitly obtained funds. Investigators secured substantial evidence against her, resulting in the recovery of over 61,000 Bitcoin, valued at around £5 billion, and ongoing civil recovery proceedings.