A Chinese woman who attempted to ascend to royalty in the micronation of Liberland, backed by Justin Sun, has been sentenced to over 11 years in a UK prison for her role in a massive $6 billion bitcoin scam. Qian Zhimin, 47, orchestrated this fraudulent scheme in China before escaping to the UK in 2017. Her arrest occurred seven years later in York, where she eventually pled guilty to multiple criminal offenses in 2025.
According to previously leaked details from her online diary, Qian harbored ambitions to become the queen of Liberland, a self-proclaimed nation situated between Croatia and Serbia. Her grand plans included constructing a Buddhist temple, an airport, and a port in the 7 km2 territory. She even intended to spend $5 million on a personal crown and scepter. Despite her aspirations, Qian”s ambitions for the throne faced significant obstacles, as the unrecognized country operates under a democratic framework, led by President Vítem Jedlička and Prime Minister Justin Sun, who has been in office for five consecutive terms.
Qian”s fraudulent activities promised investors substantial returns, claiming dividends from crypto mining and offering 300% profits from various investment schemes. Her operation gained traction with endorsements from notable figures, including the son-in-law of Chairman Mao, and she managed to host events in one of China”s legislative halls. Ultimately, her deceptive practices defrauded over 120,000 individuals before she absconded to the UK with approximately £20 million worth of bitcoin.
Throughout the years, Qian engaged in extensive money laundering activities, aided by a former takeaway worker, while her bitcoin holdings grew to an astonishing 60,000 BTC, equating to over $6 billion. The legal representatives of thousands of victims have expressed hope for recovering their lost investments; however, challenges loom as some funds were transferred through local promoters before reaching Qian”s operations. A civil proceeds of crime case is set to unfold early next year to determine the fate of the substantial bitcoin cache.
As the crypto community watches closely, this case underscores the persistent issues of fraud within the cryptocurrency landscape, emphasizing the need for investor vigilance and regulatory oversight in this rapidly evolving sector.
