Archive · 13 Nov 2025
Chinese 'Cryptoqueen' Sentenced to Over 11 Years in UK Prison for Massive Ponzi Scheme
Imagine someone promised to make people's money grow super fast, like magic!
This lady, called the 'cryptoqueen,' told over 100,000 people in China that she could give them more than double their money back if they invested.
She even held big events and got famous people to talk about her plan.
But instead of using real investments, she was actually just using the money from new people to pay the older investors, which is a kind of trick called a Ponzi scheme.
When Chinese police started looking into it, she ran away to London.
She lived a fancy life with the money she took, but police eventually caught her and found a lot of digital money.
Now, she's going to prison for a long time.
Chinese national Zhimin Qian, known as the 'cryptoqueen', has been sentenced to over 11 years in prison in the UK.
She was found guilty of running a Ponzi scheme, Lantian Gerui (Bluesky Greet), that defrauded 128,000 investors in China.
The scheme targeted elderly Chinese citizens with promises of over 200% returns, funded by new investors' money.
Qian fled to London on a false passport and lived an affluent lifestyle, converting Bitcoin holdings into cash for personal use.
British authorities seized over £50 billion worth of cryptocurrency from Qian, reportedly the largest haul of its kind.
- Who
- Zhimin Qian, a Chinese national dubbed the 'cryptoqueen'
- What
- Sentenced to over 11 years in prison for operating a massive Ponzi scheme called Lantian Gerui (Bluesky Greet)
- When
- Sentenced on Tuesday
- Where
- UK court, after fleeing China
- Why
- Defrauding 128,000 investors, primarily Chinese middle-aged and senior citizens, to amass wealth for personal use
Qian's Defense
Prosecution's Case
Investment Strategy
Qian's Defense
Returns were intended to be paid once Bitcoin hit a certain price threshold.
Prosecution's Case
Returns were actually paid from new investors' money, a classic Ponzi scheme.
Source of Wealth
Qian's Defense
Possession of significant Bitcoin holdings, as evidenced by her 'cryptoqueen' status.
Prosecution's Case
Wealth accumulated through defrauding 128,000 investors.
- Name
- Zhimin Qian
- Age
- 47
- Sentence
- Over 11 years in prison
- Conviction
- Guilty of running a Ponzi scheme
- Number of Victims
- 128,000
- Scheme Name
- Lantian Gerui (Bluesky Greet)
- Estimated Bitcoin Holdings
- Worth $6.6 billion (at the time of her moniker)
- Recovered Cryptocurrency Value
- Over £50 billion