It reads like a thriller a woman who turned stolen money into billions of rupees in Bitcoin and vanished behind layers of encrypted wallets, worshiped in underground circles as the “Goddess of Digital Wealth.”
On Monday, in London’s Southwark Crown Court, Chinese national Jimin Chan, also known as Yadi Zhang, admitted to orchestrating one of the largest cryptocurrency frauds in history.
Metropolitan Police investigators recovered 61,000 Bitcoins, valued at nearly ₹60,000 crore (£5 billion) — the largest crypto seizure globally.
A Digital Empire Built on Deception
Jimin Chan projected the life of a billionaire heiress: luxury penthouses, sports cars, private jets. Known as the “Crypto Queen”, she had cultivated an aura of financial invincibility.
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Beneath the glamour, however, lay a network of shell companies, fraudulent accounts, and money-laundering schemes spanning continents. Authorities allege Chan converted stolen funds into Bitcoin, storing them across dozens of encrypted wallets — nearly impossible to trace.
The Investigation and Seizure
A three-year cyber-forensic investigation by the Metropolitan Police’s Economic Crime Command exposed the scope of Chan’s operations.
Detectives traced hundreds of wallets, shell companies, and international transactions, uncovering a sophisticated laundering network that converted illicit funds into Bitcoin.
Earlier this week, another associate of Chan also pleaded guilty for aiding in the operation.
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“A laptop and internet access are now more powerful than a weapon. Blockchain, while revolutionary, makes criminals invisible.
They can transfer funds across borders, hide identities, and evade investigators.”
Singh further explains:
“Jimin Chan’s case is not just one fraudster’s story — it’s the global face of digital money-laundering. Criminals exploit the dark web and deep networks to make illegal funds appear legitimate. This is not only a financial crime; it is a national security concern.”
He emphasizes that without coordinated international regulations, such frauds will continue to escalate: “The next major crime won’t involve robbing a bank vault — it will target an entire digital economy.”
Freedom or Fraud? The Crypto Paradox
Bitcoin and other cryptocurrencies were initially hailed as symbols of financial freedom and transparency. Now, they have become a tool for criminals seeking anonymity.
Experts note a surge in crypto-based money laundering globally. Jimin Chan’s operation represents the extreme edge of this trend — a cautionary tale of technology’s double-edged nature.
Next Steps
Chan has been found guilty, with sentencing scheduled soon. Following this case, the UK and EU are reportedly considering stricter crypto regulations, including wallet tracking and enhanced verification measures.
Yet experts warn: one criminal’s capture will not stop the wave of digital fraud. For every Crypto Queen caught, another may already be rising somewhere in the world.
The Digital Age’s Stark Reality
Technology empowers — but it also endangers. When money, identity, and business exist online, crime becomes borderless and invisible. The saga of Jimin Chan, the self-styled Crypto Queen, reminds us: in the digital era, every innovation carries the seed of a new type of criminal.
