Chinese woman involved in a fraud scheme absconded to London with 200 billion, 61,000 Bitcoins seized, setting a global record.

A massive fraud case spanning China and the UK has recently come to light. Chinese national Qian Zhimin, since 2014, lured over 128,000 investors with the bait of high returns on investment, illegally siphoning off more than 200 billion New Taiwan dollars, and converting the funds into 61,000 Bitcoins to flee to the UK. She has finally been captured in London after years on the run and has pleaded guilty.

China's "Flower Sister" Creates a Billion-Dollar Scam: 128,000 Investors Fall into the Trap

In 2014, Qian Zhimin (, known as "Sister Flower" and "Goddess of Wealth," promoted an investment plan in China through the "Tianjin Blue Sky Ge Rui" Electronic Technology Company, promising high returns and daily dividends, attracting many middle-aged and elderly individuals to invest.

According to a report by Chinese media Caixin, the victims are mostly aged between 50 and 75, including businessmen, bank employees, and judicial personnel, with investment amounts ranging from hundreds of thousands to tens of millions of RMB. Many entered the market through introductions from friends and relatives, but were unaware of the dark truths behind it. Ultimately, a total of 128,000 victims were deceived, with losses amounting to as high as 200 billion New Taiwan Dollars.

Fake passport to escape to the UK, buying property without hesitation.

As the scam gradually came to light, Qian Zhimin quickly converted a large amount of funds into Bitcoin and fled to the UK in 2017 using a forged passport. After arriving in the UK, she recruited a 44-year-old Chinese woman, originally a delivery worker, Wen Jian ), to help her launder the illegal funds.

According to BBC reports, Qian Zhimin lives in a mansion worth over a million pounds in North London and has also purchased two mansions in Dubai, valued at over 500,000 pounds, approximately 670,000 US dollars. Until last year, she attempted to buy a mansion in London, raising suspicions from the UK Crown Prosecution Service.

61,000 Bitcoins have been seized, setting a global record.

The London police launched an international investigation after obtaining clues, ultimately seizing 61,000 Bitcoins during a raid at the residence of Qian Zhimin, with a current market value exceeding 6.9 billion USD, setting a record for the largest cryptocurrency seizure in the world.

The Economic and Cyber Crime Department of the London Metropolitan Police, responsible for the investigation, pointed out that this is a 7-year investigation operation spanning multiple jurisdictions and closely cooperating with Chinese law enforcement agencies.

Accomplices gradually plead guilty: Bitcoin appreciation may compensate victims or become a hope

On September 29 this year, Qian Zhiming pleaded guilty through a translator at the Southwark Crown Court in London, admitting to the illegal acquisition and possession of cryptocurrency. She is currently in custody and will face a two-day sentencing hearing in November.

As for the other involved individuals, Malaysian man 盛福林 ( transliterated as Seng Hok Ling ) also pleaded guilty on September 30, admitting to money laundering for Qian Zhimin; his assistant Wen Jian was apprehended even earlier in 2024 and sentenced to 6 years and 8 months; the remaining defendants within China have also been sentenced to prison terms ranging from 5 to 10 years.

In terms of compensation, Qian Zhimin's lawyer stated that she hopes to provide compensation to the victims through the significant increase in the value of Bitcoin. Reports indicate that some victims in China have regained part of their losses, but most people are still waiting. It is still unclear whether the UK government will retain the seized assets.

UK authorities warn: Cryptocurrency is not a safe haven for crime.

This case also highlights the risk role of cryptocurrency in international money laundering. The UK's Crown Prosecution Service warns that Bitcoin and other crypto assets have been widely used by organized crime to conceal and transfer funds.

UK Security Minister Dan Jarvis stated that this conviction sends a clear message to the world: "Cryptocurrency is not a safe haven for criminals."

As this large-scale international fraud case comes to light, Qian Zhimin and his accomplices have gradually pleaded guilty. How to handle the massive Bitcoin assets and whether the victims can receive fair compensation will become the focus of international attention in the follow-up.

This article discusses how a Chinese female scammer absconded to London with 200 billion, having 61,000 Bitcoins seized, setting a global record. It first appeared in Chain News ABMedia.