Derived from Insidebitcoins, Qian Zhimin, known as the 'Chinese Crypto Queen,' was sentenced to 11 years and eight months in the UK for a £5 billion Bitcoin scam targeting Chinese pensioners. The 44-year-old defrauded over 120,000 investors by falsely claiming her company developed health tech and mined crypto. She fled China in 2017 and lived in London under a fake identity before being arrested following a property purchase flagged by authorities. A police raid uncovered what is believed to be the UK’s largest crypto seizure, with tens of thousands of Bitcoin found in hard drives and laptops. Qian’s assistant, Wen Jian, was also sentenced to six years for money laundering. Victims hope to recover some of their losses through the seized assets.
Chinese Crypto Queen Sentenced to 11 Years in UK for £5 Billion Bitcoin Scam
InsidebitcoinsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.