‘Goddess of wealth’ pleads guilty to world’s largest crypto fraud
**‘Goddess of Wealth’ Pleads Guilty to World’s Largest Crypto Fraud**
*By Mudit Dube | Sep 30, 2025, 12:51 PM*
A Chinese national, Zhimin Qian, has pleaded guilty for her involvement in the world’s largest cryptocurrency fraud, which defrauded over 128,000 people in China and illegally acquired more than $6.7 billion worth of cryptocurrency.
**The Scam**
Between 2014 and 2017, Qian orchestrated a massive scam in China, cheating thousands of victims. She stored the stolen funds in bitcoin assets and promised investors daily dividends with guaranteed profits, exploiting the cryptocurrency boom in China. Her company claimed it aimed to make China a global financial and technological hub through various projects and investments.
Many victims—including businesspersons, bank employees, and judiciary members—were lured into investing by friends and family who knew little about Qian, who was dubbed the “goddess of wealth.” In total, 61,000 bitcoins were seized during the investigation.
**Investigation and Arrest**
The probe into Qian’s activities began in 2018 after a tip-off regarding the transfer of criminal assets. She had been evading justice for five years before her arrest following a complex, multi-jurisdictional investigation.
After fleeing China with false documents, Qian entered the UK where she attempted to launder her stolen money by purchasing property. She was aided by Jian Wen, a Chinese takeaway worker who was sentenced to six years and eight months in prison last year for her role in the laundering operations. Wen reportedly moved into a multi-million-pound rented house in North London using proceeds from the scam.
**Legal Proceedings and Impact**
Qian was convicted at Southwark Crown Court in London and is currently held in custody awaiting sentencing, with the date yet to be set.
Deputy Chief Crown Prosecutor Robin Weyell commented on the case, stating that “Bitcoin and other cryptocurrencies are increasingly being used by organized criminals to disguise and transfer assets.” He emphasized that this case, which involved the largest cryptocurrency seizure in the UK, highlights the vast scale of criminal proceeds available to fraudsters.
Investigations into the global money laundering network linked to Qian’s activities are ongoing, with authorities working to ensure these criminals are unable to access their stolen funds.
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Stay tuned for updates on this landmark case as it develops.
https://www.newsbytesapp.com/news/business/chinese-woman-pleads-guilty-to-record-6-7b-cryptocurrency-fraud/story
