Qiang Zhimin (Zhimin Qian)

Qiang Zhimin (Zhimin Qian)

Biography

2025

Confiscation of cryptocurrency for $7 billion

London police have completed one of the largest investigations into cryptocurrency fraud. Chinese citizen Zhiming Qiang pleaded guilty in court after seizing bitcoins worth about $7 billion from her. British law enforcement called it the largest confiscation of cryptocurrency in world history. The defendant is 47 and has been a fugitive for five years. This was announced by Metropolitan Police on September 29, 2025.

The investigation found that from 2014 to 2017, Zhiming Qiang, through his company Tianjin Lantian Gerui Electronic Technology, attracted tens of thousands of depositors in China. The woman promised investors unrealistic income up to 300% per annum. As a result of the financial pyramid, over 128 thousand people suffered, who lost billions of dollars.

Qiang converted the funds received into bitcoins. After the fraudulent scheme closed, she fled abroad using a fake St Kitts and Nevis passport. The woman arrived in the UK in the fall of 2018 with accomplice Jiang Wen. Fraudsters tried to legalize cryptocurrency assets through the purchase of elite real estate and other projects.

Police raided Qiang's north London home in October 2018. Law enforcement officers found laptops with access to 61 thousand bitcoins. At the moment, this cryptocurrency is estimated at about $6.9 billion. The seizure was a record volume in the entire history of the fight against cybercrime.

The investigation was carried out in conjunction with Chinese security forces. Investigators have been collecting evidence against the accused for more than seven years. London police noted close coordination between British law enforcement officers, the authorities of Tianjin and Beijing. The cooperation of international services made it possible to detain the hiding criminal and achieve her recognition.^[1]

Sentence - 12 years in prison for $7.3 billion fraud

On November 11, 2025 Great Britain , the court sentenced the organizer of a large financial pyramid. Citizen China Zhimin Qiang was sentenced to 11 years and 8 months in prison for laundering money obtained by crime. The amount of confirmed damage from the activities of the pyramid exceeded 5.5 billion pounds sterling, which is equivalent to $7.3 billion.

According to CNN, the criminal scheme operated from 2014 to 2017 and attracted more than 128 thousand depositors, most of whom lost their savings. The convict's accomplice, 47-year-old Malaysian national Seng Hok Ling, received a sentence of 4 years and 11 months in prison.

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Фото: Financial Times

According to the investigation, the financial pyramid was organized through the firm Blue Sky. Aggressive advertising and promises of high returns attracted private investors. Among the victims were citizens who invested from the sale of real estate and pension savings.

In 2017, Zhimin Qiang fled China, using a fake passport to move to the UK. According to CNN, in the country, she was engaged in money laundering through the purchase of elite real estate. In 2018, an attempt by her criminal organization to acquire objects worth a total of £24m attracted the attention of law enforcement agencies.

In April 2024, Zhimin Qiang was arrested. During the arrest, more than £60m in cryptocurrency stored in several electronic wallets was seized from her. According to The Guardian, the total volume of seized digital assets amounted to 61 thousand bitcoins.

Court spokeswoman Sally-Anne Hales said the motive for the crime was the convict's personal benefit. According to Hales, Qiang left thousands of defrauded depositors in China and continued to lead a luxurious lifestyle in the UK. Qiang's accomplices also did not escape punishment. According to The Guardian, Qiang's accomplice, Jian Wen, who was convicted in the same case, received 6 years and 8 months in prison.^[2]

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