Record $6.7 Billion Bitcoin Seizure Marks Largest Cryptocurrency Bust Ever
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Record $6.7 Billion Bitcoin Seizure Marks Largest Cryptocurrency Bust Ever

A woman has been arrested for possessing $6.7 billion in stolen bitcoin, marking a significant milestone in cryptocurrency crimes.

In an unprecedented case involving Bitcoin, a woman by the name of Zhimin Qian, also known as Yadi Zhang and allegedly called the “goddess of wealth”, has been arrested by London’s Metropolitan Police. She faces charges related to the possession and acquisition of approximately 61,000 Bitcoins, valued at an eye-popping $6.7 billion.

As of now, Qian has pleaded guilty to two counts in Southwark Crown Court. The caught crypto, originally sourced from extensive fraud allegations in China, includes funds from over 128,000 victims. The intention behind these transactions seemed directed towards asset laundering through property purchases in the UK.

This seizure is touted as the single largest in the history of cryptocurrency, dwarfing previous records. However, it’s crucial to note that the infamous seizure of 120,000 Bitcoins from the Bitfinex exchange last year still holds the record for the most coins confiscated.

Wen’s role in this operation has also led to his sentencing to a considerable six years and eight months after being caught in connection with the same investigations as Qian, who is now awaiting her fate.

“This is one of the largest money laundering cases in UK history,” stated Will Lyne, emphasizing the grim realities of organized crime using cryptocurrencies to mask their illicit proceeds. Meanwhile, Robin Weyell, deputy chief crown prosecutor, pointed out the increasing trend of criminal enterprises using digital assets as a preferred means for concealment and transfer.

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