12-11-2025

Chinese 'Cryptoqueen' Jailed for $6.6 Billion Bitcoin Scam

Date: 12-11-2025
Sources: bbc.com: 1 | edition.cnn.com: 1 | scmp.com: 1
Image for cluster 1
Image Source:

Source: scmp.com

Image content: The image depicts a woman and man walking together, with the man wearing a face mask and the woman dressed in a beige jacket. The main subject or scene shown is the woman and man walking together, likely in a public setting, possibly a court or government building given the formal attire of the individuals. News-worthy elements visible include the formal attire of the individuals, the face mask worn by the man, and the presence of other people in the background. The context suggests that the individuals may be involved in a significant event or proceeding. This image relates to news coverage as it appears to capture a moment related to the sentencing of Qian Zhimin, the mastermind behind a $6.6 billion Bitcoin Ponzi scheme, as mentioned in the provided text. Here is a concise 2-3 sentence description focusing on journalistic relevance: The image captures a moment likely related to Qian Zhimin's sentencing for masterminding a $6.6 billion Bitcoin Ponzi scheme. The formal attire

Summary

A Chinese woman, Qian Zhimin, has been sentenced to 11 years and 8 months in prison by a UK court for masterminding a $6.6 billion Bitcoin Ponzi scheme that targeted over 128,000 investors, mostly in China. The scheme, operated through her company, promised high returns on cryptocurrency investments but was actually a scam. Qian fled to the UK under a fake identity and lived an extravagant lifestyle before being arrested.

Key Points

  • Qian Zhimin sentenced to 11 years 8 months in prison
  • Masterminded $6.6 billion Bitcoin Ponzi scheme
  • Targeted over 128,000 investors, mostly in China

Articles in this Cluster

Cryptoqueen who fled China for London mansion jailed over £5bn Bitcoin stash

A Chinese woman, Qian Zhimin, has been sentenced to 11 years and 8 months in prison for laundering money obtained through a cryptocurrency scam that targeted thousands of Chinese pensioners. Qian, who posed as a wealthy antiques and diamond heiress, used the stolen funds to buy cryptocurrency, which was later seized by the UK's Metropolitan Police. The scam, which was operated through her company Lantian Gerui, promised high returns on investments in cryptocurrency mining and other ventures, but was actually a Ponzi scheme. The police believe that Qian's company embezzled over $5.6 billion from more than 100,000 investors.
Entities: Qian Zhimin, China, UK, London, HampsteadTone: neutralSentiment: negativeIntent: inform

Zhimin Qian: Chinese ‘cryptoqueen’ who had royal aspirations jailed in UK over $6.6 billion Bitcoin scam | CNNClose icon

A Chinese woman, Zhimin Qian, dubbed the 'cryptoqueen' by British media, has been sentenced to 11 years and 8 months in prison by a UK court for masterminding a $6.6 billion Bitcoin Ponzi scheme. Qian, 47, defrauded over 128,000 people, mostly in China, between 2014 and 2017. She fled to the UK under a fake identity and lived an extravagant lifestyle before being arrested in April 2024. The investigation led to the recovery of 61,000 Bitcoin, the largest cryptocurrency seizure in the UK. Qian's accomplice, Seng Hok Ling, was jailed for 4 years and 11 months for helping her launder the cryptocurrency. The judge criticized Qian's greed and lack of remorse, stating she had 'lied and schemed' to benefit herself.
Entities: Zhimin Qian, United Kingdom, China, Bitcoin, Southwark Crown CourtTone: neutralSentiment: negativeIntent: inform

Hong Kong court grants surgeon with dementia full discharge in botox death case | South China Morning Post

A Hong Kong court has granted a 93-year-old plastic surgeon, Dr. Franklin Li Wang-pong, an absolute discharge for the unlawful killing of a top banker during a botched botox injection seven years ago. The court concluded that due to Li's advanced dementia, he was unfit to stand trial and no other sentencing option was suitable. The judge, Mr. Justice Anthony Kwok Kai-on, expressed disappointment and condemned Li's actions, while also acknowledging the pain of the victim's family and the need for accountability.
Entities: Hong Kong, Dr. Franklin Li Wang-pong, Mr. Justice Anthony Kwok Kai-on, High Court, plastic surgeonTone: neutralSentiment: negativeIntent: inform