Category: Scam

Chinese Woman Pleads Not Guilty to Bitcoin Laundering Charges in the UK

Summary

Zhimin Qian, a Chinese national, has pleaded not guilty to charges of Bitcoin laundering in UK court. She was accused of handling illegal cryptocurrency in connection with a large money laundering operations.

X (formerly Twitter) post by Crypto News (CoinGape)

Qian Faces Money Laundering Charges

Zhimin Qian, popularly known as Yadi Zhang, stood in front of UK court and pleaded not guilty to laundering Bitcoin. According to Bloomberg, Qian was arrested and charged with two counts of money laundering. The UK’s Criminal Prosecution Service alleges that Qian possessed and transferred illegal cryptocurrency as part of a broader criminal operation prior to April 23.

The Involvement of Jian Wen

Authorities claim that Qian worked with Jian Wen, who has been sentenced for 6 years on the count of being involved in laundering plot. Police conducted raid on Wen’s residence to find 61,000 Bitcoin, currently valued over $4 billion. This arrest on Wed led the authorities to conduct a thorough investigation on Qian.

“Crypto Queen” Allegations

Qian is infamous with the name “Crypto Queen” , as she is accused of frauding 130,000 Chinese investors out of $5.6 billion between 2014 and 2017. However Qian denies all accusation and intends to fight back vigorously.

Trial Set for 2025

The trial is scheduled to begin in September 2025 at Southwark Crown Court, where another co-defendant, Seng Hok Ling, has also pleaded not guilty to related charges.

Qian’s case has drawn significant attention, as the broader legal proceedings around cryptocurrency crimes continue to evolve globally like the one which recently occured in Hong Kong.

Hong Kong’s Fraud Empire Exposed : Police Arrests 27 Individuals

Summary

Hong Kong police have managed to take down a notorious fraud syndicate responsible for stealing HK $360 million using romance scams connected to cryptocurrency platforms. The arrested 27 people revealed how they used deepfake and digital media expertise to fool victims across Asia.

Hong Kong police reported that they have dismantled a cross-border fraud syndicate, arresting 27 individuals responsible for defrauding victims of HK$360 million through romance scams. The operation targeted a highly organized group operating locally and overseas.

The scam started by first initiating a fake love relationship with the victim and luring them into buying sketchy cryptocurrency platforms, similar to Vietnam case. Most of the victims were men, scammers used deepfake to change their appearance and made video calls to convince them to invest into their platforms. The fraud ring produced a “training manual” in Chinese and English, teaching scammers different deception techniques. Arrested individuals’ ages ranged from 21 to 34, with several holding academic qualifications.

They operated from an industrial building Hung Hom for about a year, the group hired university graduates, especially from digital media, to serve as technology experts. The fraudulent platform ran like a legit business. Police seized over 100 phones, computers and luxury watches during the raid.

This case shows how cybercrime involving cryptocurrency and artificial intelligence are becoming more common lately.

Vietnamese authorities shut down crypto fraud

Vietnamese authorities shut down a crypto fraud run by a group from Laos. These foreign criminals defrauded victims of tens of billions of dong. Some key Vietnamese suspects trained for this digital deception have been arrested for their roles in this scheme, which included using fake cryptocurrencies to lure victims.

The criminal activities were based on the Golden Triangle Special Economic Zone in Laos’ Bokeo Province. The group especially made romantic approaches to victims and eventually lured them into buying their shady cryptocurrency. Their platform is Biconomynft which is a fake app that promises amazing returns. Over several months, they have reportedly managed to steal 17.6 billion dong from Vietnamese victims.

Scammers use fabricated social media profiles and connect with the victim pretending to be their lover. Once the trust was secured, victims were convinced to invest in their bogus cryptocurrency app. To establish legitimacy small returns were given to them but larger sums were seized and the victim’s accounts were frozen.

The shutdown of this fraud shows how the crypto space is tightening its security. This gives definitive proof of Biconomynft being a scam platform.

KDX Exposed as Scam, Kaspa Issues Apology

KDX was a project that many people thought was real, but it turned out to be a scam. This means that the people behind KDX took money and disappeared, leaving many who trusted them very upset.

KRC-20 projects, trusted names in the Kaspa crypto world, have said they are sorry for what happened. Kaspa believed in KDX because the technology seemed to work fine when they tested it, and the person in charge of KDX was part of important groups, which made the project seem safe.

Now, everyone is being told to be careful. Before putting money into any project, it’s important to check if it’s real, ask questions if something doesn’t make sense, and take time to think before deciding.

This is a big lesson for everyone: always make sure something is safe before you trust it with your money.

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