Zhimin Qian, a Chinese national widely called the “Crypto Queen,” faces sentencing in the UK after admitting to offences tied to what authorities call the largest cryptocurrency seizure ever recorded.
Investigators say the haul came from an investment scheme run in China between 2014 and 2017. Prosecutors link the activity to a company named Tianjin Lantian Gerui Electronic Technology Co Ltd, which allegedly promised high returns to thousands of people.
According to police statements, Qian left China around 2017 and later used false travel documents, including a St Kitts & Nevis passport, to live in the UK. In 2018, officers searched a property in Hampstead and found wallets and devices that helped them trace the crypto holdings.
Reports have outlined the legal and practical hurdles ahead. The Bitcoin seized in 2018 has risen massively in value since then, which complicates decisions about how to return money to those harmed.
Judges will consider the scale of the loss, the number of victims, and the role Qian played in moving or hiding the funds when deciding the sentence.
UK authorities including the Metropolitan Police and the Crown Prosecution Service are coordinating efforts to secure the remaining assets and to set up processes for victims to claim funds.
Featured image from Gemini, chart from TradingView
