HUNKERING down in a luxury Hampstead mansion, a Chinese Bitcoin queen left a trail of empty pockets behind her after stealing £5.5billion from thousands of victims.
Zhimin Qian, 47, splashed her fraudulent billions on watches, jewels and hotel rooms all as she evaded the cops after masterminding a shady Ponzi scheme.
A twisted group of crypto queens who lie, steal and flee justice are behind some of the world’s biggest and most expensive scams.
Unsuspecting victims have been caught up in a web of deception at the hands of the female fraudsters who often go on to live a life of luxury through their illegal cash grabs.
Chinese con artist Qian who defrauded over 128,000 victims was able to run off with billions back home before fleeing Beijing.
She made it across to Europe, spent endless bundles of illegal cash and lived the life of her dreams for months on end before settling down in a UK mansion.
Another woman remains on the run after managing to steal £3.5billion from unwitting customers, including Brits, through her “Bitcoin killer” coin.
Another key player in the crypto queen gang is Russia’s Bitmama.
It took her just two months to build up £17million through a fraudulent pyramid scheme.
One scammer even tried to evade capture by starting up a rap career after stealing £3.5billion worth of Bitcoin in a hack job alongside her husband.
Al Alof, CEO of ChicksX, a top crypto exchange platform, told The Sun female con artists are experts in luring in victims.
“The rise of crypto queens is mainly down to a combination of influencer culture, emotional manipulation, and crypto’s technical speed,” Alof explained.
“Many female scammers will build a very believable front and hide behind an expertly engineered persona.
“Female scammers also tend to play off of societal expectations and use techniques common in romance and affinity fraud.
“A woman running a large crypto fraud still feels less stereotypical to many victims, which causes them to lower their guard.
“Due to the fact that crypto transfers are so fast and mostly irreversible, once this trust is established, these scams can raise millions within days.
Chinese ‘Bitcoin Queen‘
Qian, 47, created a Ponzi scheme which involved over 128,000 victims back home in China between 2014 and 2017.
She stashed the money in Bitcoin assets then fled to the UK when she discovered the Chinese authorities were onto her.
Qian went on sightseeing trips across Europe and stayed in lavish hotels to evade capture as she racked up bills on luxury goods.
Qian also splurged on expensive jewellery – on one occasion purchasing two watches for nearly £120,000 – and rented a £17,333-a-month mansion in Hampstead, North London.
Footage captured the moment she was arrested in April 2024 as he laid in bed inside her luxury UK mansion.
Qian tried to claim she was ill with a sore leg and brain injury as she gave officers a fake name.
Police would go on to seize laptops with millions of pounds’ worth of Bitcoin contained on them.
Qian has now been jailed for 11 years after she pleaded guilty to money laundering offences.
World’s most wanted
Dr Ruja Ignatova persuaded millions of unaware victims to purchase her new crypto currency “OneCoin” – something which she dubbed the “Bitcoin Killer” – back in 2014.
She boasted it was faster, cheaper and more secure than its rival – with people from 175 countries signing up to get rich quick, including tens of thousands of Brits.
Despite the promises of riches however, OneCoin turned out to be giant ponzi scheme which sucked in some $4billion from unwitting customers.
The German-Bulgarian businesswoman, who was Oxford educated, became one of the world’s most wanted female criminals after the scheme was revealed.
But Ignatova has not been seen or heard from since October 25, 2017.
She ran off with her cash and remains a top priority for investigators across the globe.
Over eight years later, she is the only woman on the FBI‘s Most Wanted List and is also on Interpol’s Red Notice List.
Her disappearance had sparked rumours that Ignatova was actually brutally murdered instead of still hiding out.
Police and investigative journalists looking into her crimes found that she may have had links to a ghostly figure known as Taki.
Taki is believed to be the head of the Bulgarian Mafia and has a dark past of criminality and bloodshed across the European nation.
Crypto expert Alof noted that Ruja is perhaps the best example of why female con artists are often so successful.
He said: “She combined charisma, fabricated legitimacy, and a global sales network to create billions before disappearing.”
Getting rich quick
It took Russian crypto queen Valeria Fedyakina just 60 days to steal £17million in a major scam.
One victim even told cops they had lost £57million to the self proclaimed “Bitmama”.
Fedyakina is alleged to have built up her millions from a pyramid scheme targeting four different wealthy individuals.
She allegedly portrayed herself as a cryptocurrency expert who promised to make her victims even richer through crypto investments, cops claim.
They would send her cash directly after being told she could turn it into crypto which would hold a much higher value, officials claim.
Fedyakina would then run off with the money.
She was six months pregnant when she was caught and sent to the gulag as she tried to run off to the United Arab Emirates.
Her defence team has continuously denied the claims of fraud.
‘Bad-ass money maker’
Heather Morgan was arrested in 2022 on the streets of New York after police traced £3.5billion back to a crypto heist she had committed alongside her husband.
The couple, dubbed Bitcoin’s Bonnie and Clyde, managed to pull off an audacious Bitcoin hack as they pocketed the riches.
While many lay low when pulling off such a brazen cash grab, Morgan was trying to live out her dreams at the same time.
She kicked off a career as a foul-mouthed rapper known as Razzlekhan alongside the hack.
Morgan masqueraded as a rapper and tech entrepreneur while evading police as she tried her hand as one of New York’s freshest musicians.
Some of her lyrics saw her call herself a “bad-ass money maker” as well as “the crocodile of Wall Street”.
Morgan pleaded guilty to money laundering but was only sentenced to 18 months behind bars.
Crypto collapse
Caroline Ellison, the former business partner of cryptocurrency fraudster Sam Bankman-Fried, was sentenced to two years in prison for her role in one of the biggest financial frauds in history.
Ellison was severely punished for her role in the collapse of the cryptocurrency exchange FTX.
FTX, founded in 2019, grew into the third biggest crypto exchange in the world, valued at £26billion, within just two years.
But it quickly fell into financial ruin once it emerged that wire fraud and money laundering had all helped to boost its stocks.
Ellison admitted her role in the scam and was forced to hand over £8.2billion in stolen goods and had to testify against on-and-off boyfriend Bankman-Fried.
If not, she was facing a maximum sentence of 110 years in prison.
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Her role as a key prosecution witness in the bombshell trial ended with a court finding Bankman-Fried guilty of stealing more than £6.3billion from customers while at FTX.
He was sentenced to 25 years in prison.
The dangers of investing in crypto
HERE are five key risks to keep in mind when investing in cryptocurrencies:
Consumer protection: Many cryptocurrency investments promising high returns are not fully regulated, apart from anti-money laundering rules. This means you may have limited protection if things go wrong.
Price volatility: Cryptocurrency prices can rise and fall dramatically, making it easy to lose money. It’s also difficult to reliably determine their value.
Product complexity: Crypto products and services can be complicated, which makes it hard to understand the risks. Plus, there’s no guarantee you can convert your cryptocurrency back to cash—it depends on market demand and supply.
Charges and fees: Crypto investments often come with high fees, which can eat into your returns. These fees are often higher than those for regulated investments.
Marketing hype: Some firms exaggerate potential returns or downplay the risks involved. Be cautious of flashy promotions.
Al Alof, CEO of ChicksX, a top crypto exchange platform, told The Sun: “My advice to anyone would be to be suspicious of anyone offering guaranteed or exclusive returns.
“Crypto markets are volatile; anyone who’s promising steady profits is most likely lying.
“Don’t confuse glamour with credibility. A polished social media profile doesn’t mean anything.
“Scammers invest in high-quality photos because they create trust. Watch for emotional manipulation tactics.
“These “crypto queens” often rely on warmth and flattery to get you to part with your coin.
“If the conversation quickly shifts from friendly to financial, walk away. Report and warn others.
“If you suspect a scam, report it to your country’s financial fraud agency, screenshot conversations, and share them with your community.”
For tips on avoiding scams, check out our guide.
