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Chinese fraudsters confesses $ 7.4 billion Bitcoin fraud!
A Chinese woman owed her guilty in London that he had been involved in a Bitcoin fraud $ 7.4 billion.
Chinese fraudsters confesses $ 7.4 billion Bitcoin fraud!
On October 1, 2025, Zhimin Qian, a 47-year-old Chinese, announced guilt in two charges in front of a British court, which were brought up as part of one of the greatest crypto fraud cases in history. The fraud, which took place between 2014 and 2017, affected over 128,000 victims in China and added up to an impressive $ 7.4 billion in Bitcoin (BTC). This exciting turn in the case was the result of a comprehensive investigation that included international authorities.
Qian, which stored illegal funds in Bitcoin, fled from China by using fake documents and looking for refuge in the United Kingdom. There she tried to clean the revenues of the fraud by real estate purchases with the support of Jian Wen, a British citizen. Who was sentenced to six years and eight months in prison last year because he played an important role in Qian's network.
Extent of fraud
In 2018, the investigation led to the confiscation of 61,000 BTC by the Metropolitan Police in Great Britain, which is considered the greatest confiscation of cryptocurrencies in history. This measure underlined the seriousness of the crimes that Qian and their accomplices had committed. In April 2024, Qian and Hok Seng Ling, a 46-year accomplice, was arrested in derbyshire. Ling also gained guilty this week in court.
The law enforcement was directed by Detective Sergeant Isabella Grotto, who worked closely with the Chinese law enforcement authorities during the examination. The complex network of fraud and money laundering, which Qian and their co -conspirators had established, was gradually uncovered.
Outlook for the upcoming conviction
The verdict for Zhimin Qian and Hok Seng Ling is scheduled for the coming November. These cases not only provided answers to large-scale scams in the crypto world, but also made careful international cooperation necessary to ensure justice for the over 128,000 victims. The case remains a prime example of the challenges that the emergence of cryptocurrencies for the legal framework is worldwide.
While the legal steps against Qian and Ling are continued, the attention of the public and the media will continue to be at the risk of crypto fraud and the associated financial dangers.
For more information about this case and its development, visit the reporting of Daily Hodl.