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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.

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Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.

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