Zhimin Qian, a Chinese national widely called the “Crypto Queen,” faces sentencing in the UK after admitting to offences tied to what authorities call the largest cryptocurrency seizure ever recorded.
According to court documents, Qian – also known as the Chinese “Goddess Of Wealth” – pleaded guilty on September 29, 2025 to acquiring and possessing criminal property in the form of Bitcoin. Reports have disclosed that police seized more than 61,000 BTC during a 2018 raid, an amount worth at least $6.5 billion at current market rates.
Major Seizure Prompts Court Action
Investigators say the haul came from an investment scheme run in China between 2014 and 2017. Prosecutors link the activity to a company named Tianjin Lantian Gerui Electronic Technology Co Ltd, which allegedly promised high returns to thousands of people.
Reports put the number of victims at more than 128,000. That figure has raised questions about how any recovered funds could be shared among so many claimants.
The Arrest And The Evidence Trail
According to police statements, Qian left China around 2017 and later used false travel documents, including a St Kitts & Nevis passport, to live in the UK. In 2018, officers searched a property in Hampstead and found wallets and devices that helped them trace the crypto holdings.
Records shown in court link transfers and accounts to the scheme that defrauded investors. The items seized in that operation are central to the Crown’s case and to plans for victim compensation.
Compensation And Cross-Border Challenges
Reports have outlined the legal and practical hurdles ahead. The Bitcoin seized in 2018 has risen massively in value since then, which complicates decisions about how to return money to those harmed.
Lawyers say cross-border claims between UK authorities and Chinese victims could take years to sort out. Based on reports, one worry is conflicting claims over who is entitled to the assets and whether victims will receive the current market value of the Bitcoin or the value at the time of seizure.
Sentencing Timeline And Possible Penalties
According to court sources, Qian could face up to 14 years behind bars under the charges she admitted. Sentencing was expected to take place soon after the guilty plea, although exact dates have not been confirmed publicly by the court in all outlets.
Judges will consider the scale of the loss, the number of victims, and the role Qian played in moving or hiding the funds when deciding the sentence.
Investigations And Next Steps
UK authorities including the Metropolitan Police and the Crown Prosecution Service are coordinating efforts to secure the remaining assets and to set up processes for victims to claim funds.
Featured image from Gemini, chart from TradingView
