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A Chinese billionaire has been convicted in London for orchestrating what authorities call the world’s largest crypto scam, defrauding more than 128,000 victims and laundering billions through Bitcoin. Zhimin Qian, also known as Yadi Zhang, attempted to launder an estimated £5.5 billion after fleeing China in 2017.

The World’s Biggest Crypto Scam

Between 2014 and 2017, Qian, 47, ran an elaborate investment scheme through her company, Lantian Gerui. She promised investors returns of up to 300 percent and courted prospective business partners at Beijing’s prestigious Diaoyutai State Guesthouse. Instead of delivering on investments, she converted the funds into Bitcoin and fled to the UK.

Qian entered Britain using a fake St. Kitts and Nevis passport, eventually settling into a lavish six-bedroom Hampstead mansion she rented for £17,000 per month with her accomplice, Jian Wen.

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A Supervillain Persona and Lavish Lifestyle

During her trial, Qian was described as a “supervillain” and a “master of deception.” Despite posing as a global jewelry magnate, she spent much of her time in bed gaming, shopping, and trading Bitcoin. Wen, once a takeaway worker in Leeds, became the public face of the operation, traveling across Europe to buy luxury goods and property with cryptocurrency.

When police raided their Hampstead home in 2018, they discovered devices holding 61,000 Bitcoin—worth about £5 billion today. The Metropolitan Police confirmed it was the largest single cryptocurrency seizure in the world.

Legal Battle Over Billions

The massive fortune is now the subject of a tug-of-war. UK Chancellor Rachel Reeves has reportedly earmarked the seized assets to help shore up Britain’s public finances, but Chinese victims insist the money rightfully belongs to them.

In her digital diary, Qian revealed ambitions of being crowned a “Reincarnated Goddess” by the Dalai Lama and ruling over Liberland, a self-declared micronation on the Danube.

Using the funds from her crypto Scam she envisioned building an airport, port, Buddhist temple, and even acquiring a £5 million crown and scepter.

Conviction and Sentencing

Qian, who had been the subject of an Interpol Red Notice, pleaded guilty at Southwark Crown Court to charges of possessing and transferring criminal property. Wen was previously sentenced to six years and eight months in prison for her role.

Will Lyne, Head of Economic and Cybercrime at the Met, stated: