Fugitive ‘Cryptoqueen’ Sentenced in UK for £5bn Bitcoin Fraud

A Chinese national known as the country’s “cryptoqueen” has been jailed in the UK after admitting to her role in a multibillion-pound cryptocurrency fraud, closing what Metropolitan Police officials describe as their longest-running digital asset investigation. The case, first detailed in reporting by Dev Kundaliya on 13 November 2025, centres on 47-year-old Zhimin Qian, who received a sentence of 11 years and eight months at Southwark Crown Court.

According to the original report, Qian pleaded guilty in September to two charges under the Proceeds of Crime Act related to possessing and transferring criminal property. Her conviction concludes a seven-year inquiry involving international agencies, thousands of victims and a massive Bitcoin hoard now valued at nearly £5 billion.

Investigators say Qian founded Lantian Gerui in China between 2014 and 2017, claiming the company operated advanced technology ventures and Bitcoin-mining operations. The scheme attracted more than 128,000 investors from every Chinese province, many of them older individuals drawn in by promises of extraordinary profits. As cited by the BBC, one participant, Mr Yu, said he and his wife invested significant savings after early daily payouts appeared to verify the company’s legitimacy. Many investors reportedly borrowed heavily at high interest rates in hopes of securing returns of up to 200%.

Qian fled China in 2017 using forged documents after authorities uncovered the fraudulent operation. She later settled in a luxury Hampstead property in London, where police intelligence suggested she was attempting to convert her cryptocurrency into lawful assets. In 2018, a raid on the home uncovered more than 61,000 Bitcoin — a record-breaking seizure referenced in the original reporting.

Her network of associates also faced prosecution. Former assistant Jian Wen was sentenced in 2024 for aiding Qian’s attempts to buy property in Dubai, while another associate, Seng Hok Ling, received four years and 11 months for transferring criminal crypto assets.

Will Lyne, head of the Met’s Economic and Cybercrime Command, said the case represents one of the UK's most complex economic crime operations. While the seized Bitcoin remains under government control pending further legal action, the article notes that thousands of Chinese victims remain unlikely to recover their financial losses.