A person from China has admitted to her part in the biggest cryptocurrency confiscation in the world, which is worth over £5 billion ($6. 7 billion)

Main Points:

• Zhimin Qian admitted to his role in a huge cryptocurrency scam in London that resulted in the loss of 61,000 bitcoins worth billions of dollars.
• The scam affected more than 128,000 people in China. Money was cleaned through buying properties, and a helper named Jian Wen was involved.
• UK officials said that the seven-year investigation is an important step in tackling crimes related to cryptocurrency.

Zhimin Qian, who is also called Yadi Zhang, went to Southwark Crown Court in London on Monday. She confessed to illegally getting and holding tens of thousands of Bitcoins that were part of a big fraud scheme in China.

The Metropolitan Police says that Qian was the leader of a big investment scam in China from 2014 to 2017, which tricked more than 128,000 people.

UK Authorities Take 61,000 BTC Connected to Huge Fraud Case

The stolen money was converted into Bitcoin, and in the end, the UK authorities took 61,000 BTC.

The police started looking into things in 2018 after they got a warning about strange transfers of digital money. After avoiding being caught for years, Qian was finally arrested in the UK, where she had been living with a fake identity.

The police said she tried to hide the money she made by buying expensive property.

“This was a long and difficult investigation that involved many different areas and took seven years,” said Detective Sergeant Isabella Grotto, who was in charge of the case.

“Qian’s arrest and sentence are an important step in fighting the illegal use of cryptocurrencies. ”

Qian was not by themselves. She was helped by Jian Wen, who used to work at a Chinese restaurant and helped clean the stolen money.

Wen, who is 44 years old, was given a prison sentence of six years and eight months last year after he changed from living in a simple place above a restaurant to a fancy home in North London.

Officials said she also bought two properties in Dubai that are worth more than £500,000. The police took over £300 million in Bitcoin from Wen.

Court papers show that many people tricked by Qian were attracted by promises of daily payments and big profits. This was part of a scam that took advantage of China’s excitement for cryptocurrency at that time.

The victims included workers and retired people, many of whom were convinced to invest by their friends or family.

Qian’s company presented itself as a modern financial business that supports China’s goal of being a top center for financial technology in the world. Prosecutors say it was actually a cover-up for a big cryptocurrency scam.

Qian is currently in jail waiting for a court decision on his punishment.

Attacks related to cryptocurrency have increased by 169% in just six months

According to new information from Jameson Lopp, one of the founders of CASA, more people are being physically attacked because they own Bitcoin and other cryptocurrencies.

Since late February, there have been 35 new violent events reported around the world, which is a 169% rise in just six and a half months.

The increase adds to a concerning pattern, as cryptocurrency markets keep going up.

So far in 2025, there have been 48 attacks, which is a 33% increase compared to all of 2024. France has had 14 of this year’s reported cases on its own.

One of the most worrying events happened on September 6 in Cambridge, Canada. A young man was taken at gunpoint and made to send money to a cryptocurrency wallet.