'Bitcoin Queen' who laundered $5.6 billion in illicit funds through crypto gets nearly 12 years in prison — UK court hands down sentence

Zhimin Qian, known as the 'Bitcoin Queen,' has been sentenced to nearly 12 years in prison by a UK court for laundering $5.6 billion in illicit funds through crypto. Qian operated an unlicensed investment company in China, defrauding thousands of investors. Her evasion of the law ended when she transferred Bitcoin to an account monitored by authorities, leading to her arrest. Despite her lawyer stating she did not intend to commit fraud, the judge criticized her for lying and scheming for personal gain. China and the UK are working on repatriating the stolen funds, but extradition complications may arise due to the UK's suspension of its treaty with Hong Kong.