When officers from the Metropolitan Police raided a mansion in Hampstead, north London, to arrest Qian Zhimin for suspected financial crimes, they expected to uncover evidence of wrongdoing, but they were stunned to find history’s largest cryptocurrency seizure, tens of thousands of Bitcoin worth more than £5 billion hidden across hard drives and laptops.
Once hailed as an ambitious entrepreneur in China, Qian built her company Lantian Gerui — translated as Bluesky Greet — on dreams of high-tech health products and crypto mining ventures. But according to Metropolitan Police reports, her business was little more than an elaborate scam that siphoned money from more than 100,000 Chinese investors, many of them retirees hoping for financial security.
Flight from China to a life of luxury in London
As Chinese authorities began investigating her operation in 2017, Qian fled the country under a false passport and reemerged in the UK. She rented a £17,000-a-month mansion in the affluent Hampstead neighborhood, posing as a wealthy antiques and diamond heiress.
Her assistant, later convicted of laundering money for her, described a strange routine: Qian spent her days shopping online, gaming, and outlining ambitious plans in her journal—to purchase a Swedish castle, establish a private bank, and even crown herself “Queen of Liberland,” an unrecognized microstate on the Danube River.
Cryptoqueen Bitcoin stash
Qian’s extravagant lifestyle began to unravel when she tried to purchase an even grander estate in Totteridge, a wealthy enclave known for its secluded mansions. The large cash transfer raised red flags and triggered a money-laundering investigation.
A subsequent police raid on her Hampstead home revealed the massive crypto fortune—now described by authorities as the largest digital currency seizure in UK history. The discovery shocked investigators, linking Qian directly to an international fraud scheme that had devastated thousands of Chinese investors.
Awaiting justice and the fate of a fortune
Now 47, Qian awaits sentencing at Southwark Crown Court after pleading guilty to money laundering and possession of criminal property. Her arrest and conviction mark a turning point in how law enforcement tackles global crypto crime.
The Metropolitan Police’s Economic Crime Command called the case “the world’s largest crypto seizure,” emphasizing its complexity and international scope. For victims like Mr. Yu, who lost his savings and marriage in the fallout, there is still faint hope that some of the recovered funds will return to those defrauded.
According to British news media, Yu said, “The only thing that can give us back what we lost, is that haul of Bitcoin.”
