Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
China News Weekly: Qian Zhimin used more than 1.1 billion yuan in stolen money to buy 61,000 BTC, the current highest value has reached 32 billion yu

China News Weekly: Qian Zhimin used more than 1.1 billion yuan in stolen money to buy 61,000 BTC, the current highest value has reached 32 billion yu

CointimeCointime2024/05/20 06:10
By:Cointime

China News Weekly published an article titled "The Boss Who Promised You Three Lifetimes of Wealth Ran Away with 61,000 Bitcoins". The judicial documents obtained by the publication regarding the Qian Zhimin British Bitcoin money laundering case revealed that the involved Bitcoins were mostly from large-scale fraud committed by her in China. In June 2014, Qian Zhimin opened a digital currency trading account in someone else's name and used over 1.1 billion yuan of stolen funds to buy Bitcoins. If calculated based on the highest Bitcoin market value since 2024, the value has exceeded 32 billion yuan. According to lawyers, Qian Zhimin fled to the UK in September 2017. On September 4 of the same year, the People's Bank of China and seven other departments issued the "Announcement on Preventing the Risks of Token Issuance and Financing", and since then, virtual digital currency exchanges have closed the exchange channel between RMB and virtual digital currency. That is to say, before the case was exposed, Qian Zhimin could use the stolen funds to directly purchase Bitcoins on the trading platform, and coupled with the lack of anti-money laundering measures such as real-name authentication for accounts at that time, it was easy for her to escape overseas with Bitcoins.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

BlockDAG, Solana, Monero, & PEPE Could Shape the Top-Performing Crypto Rankings in 2025

Want to know the top-performing crypto for 2025? See why BlockDAG’s 17,750 miners & 2,520% ROI lead the pack, along with strong contenders Solana, Monero, & PEPE.1. BlockDAG (BDAG): Massive Hardware Rollout and Market Momentum2. Solana (SOL): A Scalable Solution with Strong Developer Demand3. Monero (XMR): Privacy-Focused with Long-Term Resilience4. PEPE: A Meme Coin That Keeps Delivering Unexpected GainsWhich Crypto Has the Edge in 2025?

Coinomedia2025/05/29 18:00
BlockDAG, Solana, Monero, & PEPE Could Shape the Top-Performing Crypto Rankings in 2025

Best Crypto Presale: 3 New Crypto Projects Raising Millions And Attracting Investors

Nexchain, Solaxy, and BTC Bull shine in 2025 presales—AI, Solana scaling, and BTC rewards drive investor interest as the crypto market rebounds.Nexchain: Where AI Meets Autonomous BlockchainSolaxy: Scaling the Solana SurgeBTC Bull: Airdrop for Bitcoin MaxisNexchain Leads the Charge in 2025 Pre-Sales

Coinomedia2025/05/29 18:00
Best Crypto Presale: 3 New Crypto Projects Raising Millions And Attracting Investors

XMR Price Surges & Tron (TRX) Price Action Gains Steam – but Unstaked’s AI-Powered Token Is the Smartest Buy

Tron (TRX) price action targets $0.73, Monero (XMR) price surge passes $400, but Unstaked’s $0.010126 presale and 2,700% ROI potential could overshadow them both.(TRX) Eyes $0.73 as 2025 Price Forecast Builds MomentumMonero (XMR) Surges Past $400: Is a New All-Time High on the Horizon?Unstaked Is the Future of Decentralized MarketingSumming Up

Coinomedia2025/05/29 18:00
XMR Price Surges & Tron (TRX) Price Action Gains Steam – but Unstaked’s AI-Powered Token Is the Smartest Buy