World’s Biggest Bitcoin Bust? $6.7B Seized as Chinese ‘Goddess of Wealth’ Faces Conviction

Edyme

September 30, 2025

According to court documents, Qian orchestrated a massive fraud operation in China between 2014 and 2017, defrauding more than 128,000 victims

A Chinese national has been convicted in the UK following a years-long investigation that culminated in what authorities describe as the world’s largest-ever cryptocurrency seizure.

London’s Metropolitan Police confirmed that it recovered more than 61,000 Bitcoin, valued at over £5 billion ($6.7 billion), as part of the probe into the activities of Zhimin Qian, also known as Yadi Zhang.

Fraud scheme and arrest

According to court documents, Qian orchestrated a massive fraud operation in China between 2014 and 2017, defrauding more than 128,000 victims.

The proceeds, investigators say, were stored in Bitcoin and later moved across jurisdictions to conceal their origins. Qian fled China using false documents and settled in the UK, where she attempted to convert portions of the digital assets into real estate holdings.

The Metropolitan Police, working with international partners, pursued Qian for years. Detective Sergeant Isabella Grotto, who led the investigation, described the case as “complex and global in scale,” noting that Qian had managed to evade justice for nearly five years before her eventual arrest.

Qian pleaded guilty at Southwark Crown Court to charges of acquiring and possessing criminal property. Her lawyer, Roger Sahota, said in a statement that she hopes the plea will “bring some comfort to investors who have waited since 2017 for compensation,” emphasizing that rising Bitcoin prices mean there should be enough funds available to repay losses.

Wider fallout and policy implications

While victims await clarity on compensation, reports suggest that the UK government may move to retain some of the confiscated funds under reformed crime legislation that expanded the powers of law enforcement to seize and recover crypto assets.

The operation also implicated others. Jian Wen, a former takeaway worker who assisted Qian in laundering funds, was previously sentenced to more than six years in prison after prosecutors linked her to property purchases in London and Dubai financed with the stolen money. Police said over £300 million worth of Bitcoin was recovered from Wen’s possession.

Authorities in both the UK and China stressed that the conviction sends a broader signal. Deputy chief Crown prosecutor Robin Weyell noted that cryptocurrencies “are increasingly being used by organized criminals to disguise and transfer assets,” while UK Security Minister Dan Jarvis added that the ruling shows the country “is not a safe haven” for financial crime.