The UK apprehends a Chinese mastermind in the biggest Bitcoin confiscation case valued well above 5.5 billion, revealing worldwide crypto fraud and money laundering. The UK has won a historic conviction over what is considered the biggest bitcoin seizure in history. A Chinese national known as Zhimin Qian, also known as the Bitcoin Queen, was […] The post UK Convicts Chinese Mastermind in Largest Bitcoin Seizure appeared first on Live Bitcoin News.The UK apprehends a Chinese mastermind in the biggest Bitcoin confiscation case valued well above 5.5 billion, revealing worldwide crypto fraud and money laundering. The UK has won a historic conviction over what is considered the biggest bitcoin seizure in history. A Chinese national known as Zhimin Qian, also known as the Bitcoin Queen, was […] The post UK Convicts Chinese Mastermind in Largest Bitcoin Seizure appeared first on Live Bitcoin News.

UK Convicts Chinese Mastermind in Largest Bitcoin Seizure

2025/10/02 12:15

The UK apprehends a Chinese mastermind in the biggest Bitcoin confiscation case valued well above 5.5 billion, revealing worldwide crypto fraud and money laundering.

The UK has won a historic conviction over what is considered the biggest bitcoin seizure in history.

A Chinese national known as Zhimin Qian, also known as the Bitcoin Queen, was convicted of organizing a widespread cryptocurrency fraud that ripped off more than 128,000 people in China. 

Metropolitan Police announced that it had seized 61,000 bitcoins worth more than £5.5 billion, which is the largest seizure of cryptocurrency in history. 

This far-reaching, multi-year plan was executed between 2014 and 2017, and the conviction of Qian is the result of a 7-year investigation with the participation of various jurisdictions and the tight collaboration with the Chinese law enforcement.

Mastermind Behind a Multi-Billion Pound Fraud

Qian ran a massive Ponzi scheme in the name of a firm that guaranteed very high returns, attracting investors who were primarily between 50 and 75 years old. 

She made about 40 billion yuan (approximately 5 billion pounds) by defrauding around 128,000 people. 

After her plot collapsed in 2017, she took her profits out of China and turned them into Bitcoin. 

With the help of forged documents, she gained admission in the UK and, together with her associates, like Jian Wen, tried to pay for cryptocurrency through luxurious goods like high-value property in London and Dubai.

Met Police Unveil Unprecedented Crypto Seizure

The fraudulent actions of Qian were investigated since 2018 with the intelligence of criminal asset transfers. 

Police confiscated the digital currency as well as encrypted devices, cash, and gold associated with the operation. 

The confiscation is more significant than previous large-scale crypto seizures, and it is the biggest single crypto seizure in the world. 

This achievement is attributed by the authorities to decades of careful detective investigation and unmatched global law enforcement cooperation, and is an indication of the increased risk of cryptocurrencies in international money laundering.

Head of Economic and Cybercrime Command at the Metropolitan Police, Will Lyne, was impressed by the work of the investigation team. 

He pointed out that this case highlights the use of Bitcoin by organized criminals to launder illicit proceeds and their dedication to ensuring that such criminals are brought to justice. 

Security Minister Dan Jarvis restated the strong position of the UK government against money laundering and stated that the conviction was also a strong indication that the UK will not provide a haven to criminals and their illegally acquired assets.

 

The post UK Convicts Chinese Mastermind in Largest Bitcoin Seizure appeared first on Live Bitcoin News.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights

You May Also Like

Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse?

Whales offload 200 million XRP leaving market uncertainty behind. XRP faces potential collapse as whales drive major price shifts. Is XRP’s future in danger after massive sell-off by whales? XRP’s price has been under intense pressure recently as whales reportedly offloaded a staggering 200 million XRP over the past two weeks. This massive sell-off has raised alarms across the cryptocurrency community, as many wonder if the market is on the brink of collapse or just undergoing a temporary correction. According to crypto analyst Ali (@ali_charts), this surge in whale activity correlates directly with the price fluctuations seen in the past few weeks. XRP experienced a sharp spike in late July and early August, but the price quickly reversed as whales began to sell their holdings in large quantities. The increased volume during this period highlights the intensity of the sell-off, leaving many traders to question the future of XRP’s value. Whales have offloaded around 200 million $XRP in the last two weeks! pic.twitter.com/MiSQPpDwZM — Ali (@ali_charts) September 17, 2025 Also Read: Shiba Inu’s Price Is at a Tipping Point: Will It Break or Crash Soon? Can XRP Recover or Is a Bigger Decline Ahead? As the market absorbs the effects of the whale offload, technical indicators suggest that XRP may be facing a period of consolidation. The Relative Strength Index (RSI), currently sitting at 53.05, signals a neutral market stance, indicating that XRP could move in either direction. This leaves traders uncertain whether the XRP will break above its current resistance levels or continue to fall as more whales sell off their holdings. Source: Tradingview Additionally, the Bollinger Bands, suggest that XRP is nearing the upper limits of its range. This often points to a potential slowdown or pullback in price, further raising concerns about the future direction of the XRP. With the price currently around $3.02, many are questioning whether XRP can regain its footing or if it will continue to decline. The Aftermath of Whale Activity: Is XRP’s Future in Danger? Despite the large sell-off, XRP is not yet showing signs of total collapse. However, the market remains fragile, and the price is likely to remain volatile in the coming days. With whales continuing to influence price movements, many investors are watching closely to see if this trend will reverse or intensify. The coming weeks will be critical for determining whether XRP can stabilize or face further declines. The combination of whale offloading and technical indicators suggest that XRP’s price is at a crossroads. Traders and investors alike are waiting for clear signals to determine if the XRP will bounce back or continue its downward trajectory. Also Read: Metaplanet’s Bold Move: $15M U.S. Subsidiary to Supercharge Bitcoin Strategy The post Whales Dump 200 Million XRP in Just 2 Weeks – Is XRP’s Price on the Verge of Collapse? appeared first on 36Crypto.
Share
Coinstats2025/09/17 23:42
Share