A Chinese national has been convicted in London for her role in a massive Bitcoin fraud following what authorities describe as the most significant cryptocurrency seizure in history, according to Euronews.
Zhimin Qian, also known as Yadi Zhang, was admitted to Southwark Crown Court for acquiring and holding illicit cryptocurrency valued at more than £5.5 billion (€6.3 billion). The case followed a seven-year investigation by the Metropolitan Police into global money laundering.
According to the police, a 47-year-old Qian ran a large-scale investment fraud in China between 2014 and 2017, defrauding over 128,000 victims. The proceeds were converted into Bitcoin, with 61,000 coins later recovered by UK authorities.
In 2018, Qian settled in the U.K. after fleeing China with false documents. Upon arrival, she attempted to launder the funds through property purchases.
«This is one of the largest money laundering cases in U.K. history and among the highest-value cryptocurrency cases globally,» said Will Lyne, head of economic and cybercrime command at the Metropolitan Police.
