Caixin article about some new content about Bitcoin whale Qian Zhimin, very interesting! It's quite funny that because the value of the confiscated Bitcoin has greatly exceeded the loss amount of domestic pyramid scheme victims, if the victims can also obtain the appreciation part, then they may make a big profit! But the UK Chancellor of the Exchequer said it will be used to help fill public financial loopholes. Qian Zhimin's defense lawyer stated that she first learned about Bitcoin in 2012, with the ambition of one day holding 210000 bitcoins, accounting for 1% of the total amount of bitcoins. And she almost achieved this goal. Qian Zhimin is a habitual offender in the pyramid scheme industry. He was born on September 4, 1978 in Rugao, Jiangsu, with a vocational degree and a hobby of playing games. She has developed a six-year plan from 2018 to 2023, with the core goal of retiring at the age of 45 and rebuilding the digital empire. To support the above arrangement, she anchored almost all large expenditures on Bitcoin. In her diary, she wrote: In 2018, based on an estimated cost of about $6800 per Bitcoin, she planned to sell at least 4000 bitcoins for immigration, home purchases, and team building; Assuming the price rises to $8200 in 2019, sell no more than 1500 pieces; By 2020, she further raised the predicted price to $9500 and reserved about 1750 for investing in exchanges and managing various interpersonal relationships. She bet in her diary that after entering 2021, the price of Bitcoin will remain at $40000 to $55000 per coin for a long time, as a prerequisite for planning grand projects such as digital banking, family funds, and self built kingdoms. In 2017, the money arrived in the UK, and in 2018, the UK police noticed her money laundering clues and began monitoring her wallet. In 2018, Qian Zhimin asked Wen Jian to purchase two luxury houses in North London, but the funds for buying the houses had to be exchanged in Bitcoin. The home purchase plan failed due to the inability to provide sufficient proof of funding sources and explain the origin of Bitcoin, which led to an investigation by the London police. On October 31, 2018, the London police raided the residences of Wen Jian and Qian Zhimin; After further investigation, a total of 48 devices were discovered, including mobile phones and laptops, as well as thousands of digital files, which were ultimately traced back to a digital wallet storing 60000 bitcoins. But Qian Zhimin disappeared along with it. In February 2024, a Bitcoin wallet that had been dormant for 5 years suddenly woke up, with 8.2 bitcoins transferred out. The British police traced the clues and found that these coins were transferred to a KYC account with the surname Binance Lin. The clues behind the account were then transferred to a short-term rental apartment in North York, UK. In April 2024, the wallet once again exchanged Bitcoin for fiat currency. Due to these clues, Qian Zhimin, who had been hiding for 5 years, was arrested in York. The value of these bitcoins has greatly exceeded the victim compensation amount of 48 billion yuan. It remains to be discussed whether Chinese victims will ultimately only receive their principal or the appreciation. The UK Chancellor of the Exchequer said it will be used to help fill public financial gaps. https://weekly. (caixin.com)/2025-11-15/102383278.html? p0 page2