Bitcoin Queen’s Reign Ends: 11-Year Sentence for $7.3B Crypto Laundering Scandal
The “Bitcoin Queen” has traded her crown for a cell, sentenced to 11 years for laundering $7.3B. Her crypto caper defrauded 128K in China, leading to the world’s largest crypto seizure of £5.5 billion. UK authorities hope the seized billions will plug some budget holes. Bitcoin Queen, meet Her Majesty’s prison.
Hot Take:
Looks like the “Bitcoin Queen” just got her crown revoked and swapped for some lovely prison stripes. Zhimin Qian, the crypto-criminal extraordinaire, just learned the hard way that laundering $7.3 billion isn’t exactly a royal flush, and the British legal system has no qualms about dethroning her. With 11 years and eight months of contemplation time ahead, she might want to rethink her investment strategy — perhaps start by not using Monopoly money tactics on real people.
Key Points:
– Zhimin Qian, aka “Bitcoin Queen,” sentenced to 11 years and eight months for laundering $7.3 billion.
– UK authorities seized £5.5 billion in cryptocurrency, marking the largest such seizure globally.
– Qian’s scam defrauded 128,000 victims in China between 2014 and 2017.
– Accomplices Jian Wen and Seng Hok Ling also received prison sentences.
– The UK plans to use the seized funds in future budget plans, sparking tensions with China.