There is now a Bitcoin Queen who became famous for the Chinese scam that was sentenced to 11 years last week. This scam took 5 billion dollars from Chinese people and has been fleeing from China since 2017. Last year, she was arrested from a house in London where she had been residing for the past 6 years and was paying a rent of 22,000 dollars a month. Approximately 128,000 Chinese residents were scammed by promising returns of up to 300% and exchanged all the money for Bitcoin before fleeing to London. At that time, the price of Bitcoin was quite low (between 3 to 4 thousand dollars), and she now has 61,000 Bitcoins recorded. Currently, the value of these coins is equivalent to 5.7 billion dollars or 40 billion yuan.
In China, this woman's company was running a very large scheme called Lantian Gerui, which had been promoted by several famous personalities. This company claimed to invest in cryptocurrency mining and the Health Tech Industry. The company distributed monthly profits to people and maintained a trust. Usually, such schemes are adopted in Ponzi or pyramid schemes.
The most interesting part is that this woman actually intended to buy an island (Liberland) on the banks of the Danube River and become its owner.
Now, whether the Chinese people will get their money back or not cannot be said because solid evidence will have to be provided to the Chinese authorities.
