UK convicts ‘Bitcoin Queen’ in world’s largest cryptocurrency seizure

The Metropolitan Police has secured a conviction in what is believed to be the world’s largest cryptocurrency seizure, valued at more than £5.5 billion ($7.3 billion).

Zhimin Qian, 47, also known as Yadi Zhang, pleaded guilty on September 29 at Southwark Crown Court to acquiring and possessing criminal property under the Proceeds of Crime Act. Police said she conducted a multibillion-pound fraudulent Bitcoin scheme that defrauded more than 128,000 victims in China between 2014 and 2017.

Qian was the mastermind behind a company that promised investors high returns of 100%–300% of their investment. Through this scheme, she reportedly raised 40 billion yuan from around 130,000 investors.

Read more at Bleeping Computer