Met Police Crack £5.5 Billion Bitcoin Seizure in Historic Fraud Case

The Metropolitan Police have secured a landmark conviction in the world’s largest cryptocurrency seizure, bringing down a fraudster who laundered billions through Bitcoin and left more than 128,000 victims in her wake.

The Guilty Plea That Shook Crypto History

Zhimin Qian, 47, who also went by the name Yadi Zhang, admitted at Southwark Crown Court to acquiring and possessing criminal property under the Proceeds of Crime Act. She was the architect of a vast Ponzi-style scheme that promised investors returns as high as 300 percent, raising about 40 billion yuan from around 130,000 people between 2014 and 2017.

Qian converted the illicit gains into Bitcoin and fled China when the scheme collapsed, eventually bringing her fortune to the UK.

Her early push to brand Bitcoin as “digital gold” earned her the nickname “Bitcoin Queen” in China. That image crumbled when investigators revealed the scheme’s scale and her role in moving stolen funds across borders.

How Police Uncovered the Record-Breaking Seizure

The Met launched its investigation in 2018 after intelligence suggested the stolen funds had been moved into the UK. Officers seized more than 61,000 Bitcoin during the inquiry.

At the time of seizure, the haul was worth several hundred million pounds. Today, thanks to Bitcoin’s surge in value, it is valued at roughly £5.5 billion, making it the largest crypto seizure ever recorded.

Detective teams described the case as one of the most complex financial probes in UK policing history. The investigation required cross-border cooperation with Chinese law enforcement and painstaking analysis of blockchain transactions, property purchases, and shell company networks.

The Role of Her Accomplice

After arriving in the UK, Qian tried to launder the cryptocurrency through luxury property deals, aided by Jian Wen, an associate who played a key role in the laundering attempts. Wen was convicted earlier and sentenced to six years and eight months in prison.

Qian’s arrest in 2018 was a turning point. From there, the Met pieced together evidence that tied her to the fraudulent scheme and traced the origin of the Bitcoin cache.

A Landmark for Global Cryptocurrency Enforcement

The magnitude of the seizure places the UK at the center of global efforts to tackle crypto-enabled crime.

A comparison with other major seizures highlights the scale:

While the U.S. Justice Department’s recovery of 94,000 Bitcoin from the Bitfinex hack was valued at $3.6 billion in 2022, the UK seizure now tops that in value.

Officials stressed that the case is not only about the numbers but also about proving that law enforcement can trace, freeze, and recover cryptocurrency on a global scale, even when criminals believe they can hide behind blockchain anonymity.

Voices From the Investigation

Will Lyne, head of the Met’s Economic and Cybercrime Command, praised the outcome: “This is one of the largest money laundering cases in UK history and among the highest-value cryptocurrency cases globally. I am extremely proud of the team.”

He added that meticulous detective work, coupled with unprecedented cooperation with Chinese authorities, gave the Met the evidence needed to secure a conviction.

For victims of the scheme in China, the conviction may not undo the losses, but it demonstrates that stolen digital wealth can be pursued across borders.

What This Means for Crypto and Crime

The case highlights how cryptocurrency has become both a tool for fraudsters and a focus for law enforcement. Once thought to be untraceable, digital assets like Bitcoin are increasingly being tracked by regulators and investigators using advanced forensic tools.

For ordinary investors, the case is a stark reminder of the risks of schemes that promise outsized returns. Authorities continue to warn that fraudsters often use buzzwords like “digital gold” or “financial freedom” to lure victims into scams.

For the crypto industry, the conviction signals that large-scale fraud will not go unpunished. It may also push regulators to introduce stricter compliance measures, especially in the UK, which has been positioning itself as a hub for digital finance.

The downfall of the so-called Bitcoin Queen is a striking reminder that even in the fast-moving world of digital assets, justice can catch up. What do you think about this record-breaking seizure and its impact on cryptocurrency’s future? Share your thoughts with your friends and join the conversation.