Chinese Woman Convicted in UK for $6.9B Bitcoin Scam
- A fraudulent Bitcoin operation led by Chinese national Zhimin Qian resulted in a 5.1 billion pound ($6.9 billion) scam.
- Qian pleaded guilty in the U.K. Crown Court for acquiring and possessing criminal property, specifically cryptocurrency.
- The scheme defrauded over 128,000 victims in China between 2014 and 2017, with funds stored in BTC.
- Qian attempted to launder the Bitcoin through property purchases with assistance from Jian Wen.
- Jian Wen received a six-year and eight-month prison sentence for her involvement last year.
- The Metropolitan Police described the seizure of 61,000 BTC as potentially the largest cryptocurrency bust globally.
- The U.K. government might sell the seized BTC, following Germany's previous sale that impacted Bitcoin's price.
