A woman has been convicted in the world's biggest Bitcoin seizure worth a whopping $6 billion.
While some people have abandoned their 10-year quest to recover a lost Bitcoin fortune potentially worth $8 billion, others are making their cryptocurrency riches through criminal schemes.
A Chinese national has been sentenced following an international fraud investigation that led to what's believed to be the largest single cryptocurrency seizure in history.
The Metropolitan Police said it recovered 61,000 bitcoin, currently valued at over $6.7 billion (£5 billion).
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Zhimin Qian, also known as Yadi Zhang, pleaded guilty on Monday (29 September) to illegally acquiring and possessing the cryptocurrency.
Between 2014 and 2017, Qian led a giant scam in China that defrauded more than 128,000 victims. She then reportedly converted the stolen funds into bitcoin.
The 47-year-old's guilty plea came after a seven-year investigation into a global money laundering network that started when police received a tip about criminal asset transfers.
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According to Detective Sergeant Isabella Grotto, who led the Met's investigation, Qian had been 'evading justice' for five years up to her arrest, which required a complex investigation spanning multiple countries.
She fled China using false documents and entered the UK, where she attempted to launder the stolen money through property purchases, the Met stated.
"By pleading guilty today, Ms Zhang hopes to bring some comfort to investors who have waited since 2017 for compensation, and to reassure them that the significant rise in cryptocurrency values means there are more than sufficient funds available to repay their losses," said Qian's solicitor, Roger Sahota, of Berkeley Square Solicitors.
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Helping her in her criminal operations was Chinese takeaway worker Jian Wen, who was jailed for six years and eight months last year for her participating role.
Wen laundered the scam proceeds and went from living above a restaurant to residing in a 'multi-million pound rented house' in north London, the Crown Prosecution Service (CPS) explained. She also purchased two properties in Dubai worth over $650,000.
Following the investigation, the Met seized more than $400 million worth of bitcoin from Wen.
Meanwhile, Chinese media outlet Lifeweek reported in 2024 that investors, mostly aged between 50 and 75, had invested 'hundreds of thousands to tens of millions' of yuan in schemes promoted by Qian.
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While the investors allegedly knew little about Qian, she was described as 'the goddess of wealth.'
"Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct," said Deputy Chief Crown Prosecutor Robin Weyell.
"This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters."