Cryptoqueen Faces UK Sentencing Over £5 Billion Bitcoin Laundering
LONDON — November 10, 2025 — A Chinese businesswoman dubbed the “Cryptoqueen”, who fled to the UK after embezzling billions from investors, is set to be sentenced this week for money laundering linked to one of the largest crypto seizures in British history.
Fugitive’s Lavish Life Ends With Historic Police Raid
Qian Zhimin, 47, fled China in 2017 under a false passport after police began investigating her firm, Lantian Gerui, which defrauded thousands of pensioners. She rented a £17,000-a-month Hampstead mansion and lived lavishly while hiding hard drives containing tens of thousands of Bitcoin, later valued at over £5 billion.
The Metropolitan Police discovered the stash during a raid in York, calling it the largest single crypto seizure ever made in the UK. Qian was arrested alongside four illegally employed aides.
A Billion-Pound Fraud Masquerading as Tech Innovation
Qian’s company, which claimed to develop health technologies and mine cryptocurrency, promised high returns through “smart wealth programmes.” Instead, it operated as a Ponzi-style scheme, recycling deposits from new investors to pay earlier participants.
Over 120,000 people across China invested more than 40 billion yuan (£4.2 billion), according to the Crown Prosecution Service. Victims were lured by patriotic marketing, celebrity endorsements, and mass banquets promising “wealth for three generations.”
Recommended Article: Bitcoin Rebounds as U.S. Shutdown Deal Lifts Trader Confidence in…
Victims Seek Justice and Restitution Through UK Courts
Thousands of defrauded Chinese citizens hope to recover part of their savings from the seized Bitcoin during a civil “proceeds-of-crime” case scheduled for early 2026. Lawyers say compensation will depend on whether victims can prove their original transfers, as many invested via local promoters rather than Qian’s firm directly.
“If we can gather the evidence, we hope UK authorities will show compassion,” said Mr Yu, a victim who lost his savings and marriage because of the scam.
Qian’s Obsession With Power and “Liberland” Fantasy
Diaries seized by police revealed Qian’s ambitions to found an international bank, purchase a Swedish castle, and even become “Queen of Liberland,” a self-declared microstate on the Croatian-Serbian border.
Investigators described her as “intelligent, manipulative, and highly persuasive.” Former staff testified that she spent her days gaming and online shopping, while directing large-scale fraud from her bedroom.
Cryptocurrency Stash Multiplied Twentyfold in Value
Since Qian’s arrival in London, her seized Bitcoin has surged in value more than twenty times, creating a legal dilemma over who ultimately benefits from the fortune. If unclaimed, the remaining assets could default to the UK government, though officials have yet to confirm their plans.
The CPS is also weighing a compensation scheme for unrepresented victims. Any payout structure will depend on proof of loss and court approval.
Human Toll of a Global Crypto Fraud
Victims’ testimonies reveal devastating personal consequences. Many investors were middle-aged or elderly, lured by promises of security and patriotism. Some have since fallen into poverty, unable to pay for medical care or basic needs.
One investor’s friend from Tianjin reportedly died of untreated breast cancer after losing her savings. Mr Yu, who wrote her elegy, said the tragedy motivated survivors to continue seeking justice.
Verdict Expected to Set Global Precedent for Crypto Crimes
Legal analysts say Qian’s sentencing will establish an important benchmark for international crypto-fraud enforcement. The outcome could influence how countries handle cross-border digital-asset recovery and victim restitution.
Qian, who initially denied wrongdoing, pleaded guilty in September to acquiring and possessing illicit cryptocurrency. Her sentencing at Southwark Crown Court is expected later this week.
