Give you three lifetimes of wealth! China's female god of wealth Qian Zhimin's Bitcoin Money Laundering case reveals more exaggerated dark history.

The bizarre story of Bitcoin is never-ending, and by the end of the year, the biggest scandal is about to unfold. The mystery of what is claimed to be the largest Bitcoin Money Laundering case in Chinese history is gradually coming to light. Qian Zhimin, the founder of Blue Sky Ge Ray Electronic Technology Co., Ltd. (referred to as Blue Sky Ge Ray), also known as Huahua, has been arrested and is facing trial in the UK. This mysterious figure, revered by investors as China's female financial deity, has a story that shocks the world, especially regarding her Bitcoin Money Laundering operations. As the case is exposed, more and more of Qian Zhimin's dark past is being revealed, adding more drama to the legend of this person with disabilities.

The mysterious disabled person “Hua Hua” appears in a wheelchair.

According to China News Weekly (, on May 20, 2024, in past reports, Blue Sky Ge Rui was established in March 2014, attracting a large number of investors with high-yield financial products in the early days. These financial products were like carefully designed traps, deceiving tens of thousands of investors out of their funds. The operating model involved holding promotional meetings and luxurious offline events, which made many investors trust Blue Sky Ge Rui's products. According to the memories of participants at that time, the founder of Blue Sky Ge Rui, Qian Zhiming, appeared under the mysterious identity of “Hua Hua.” She wore a veil, sat in a wheelchair, and did not allow photos or videos, such a mysterious image undoubtedly added to her allure and mystique.

The trap of the phrase “Three Generations of Wealth”

Zhang Li (a pseudonym) is an investor from Inner Mongolia who attended a promotional event for Lantian Ge Rui in 2016. At that time, the atmosphere in the venue was filled with passion, and Qian Zhiming was lifted in by the crowd, stirring the emotions of the audience with the slogan “Three Generations of Wealth.” However, behind these exaggerated speeches lies a huge financial trap. Zhang Li and her relatives and friends invested a considerable amount in Lantian Ge Rui, and in July 2017, this wealth bubble finally burst. Lantian Ge Rui suddenly stopped paying returns, delaying rebates on the grounds that national departments were under inspection, and ultimately the investors' money completely disappeared.

Empty Shell Bitcoin Mines Create Illusions

However, the story of Blue Sky Ge Rui goes far beyond this. Over time, the company began to extend its reach into the cryptocurrency field, such as Bitcoin. In early 2017, Blue Sky Ge Rui claimed to have established a Bitcoin mining site in Tianjin and started marketing Bitcoin mining projects to investors. Some investors from various places were brought to Tianjin to visit these so-called mining sites. Wang Youya (pseudonym) recalled that the mining site they visited at the time looked like a warehouse, and the mining machines were not operational but were deliberately shut down. The setup of these mining sites was undoubtedly a ploy by Blue Sky Ge Rui to create a false sense of prosperity and entice investors to continue injecting funds.

With the explosion of Blue Sky Ge Rui, some investors began to doubt the authenticity of the mining facilities provided by the company. After an in-depth investigation, it was found that Blue Sky Ge Rui's Bitcoin mining business was not actually operational, but instead used Bitcoin as a guise for fundraising and Money Laundering. Qian Zhiming was orchestrating all of this behind the scenes, using the high volatility of Bitcoin and other virtual currencies to provide cover for his illegal activities.

The past black history was exposed, starting from the crimes in Hong Kong in 2012.

According to a report by China News Weekly, Qian Zhiming is a repeat offender of financial fraud. Past public judgment documents show that on March 31, 2014, Qian Zhiming registered Lantian Gerui in Tianjin. Lantian Gerui manages the sales business of national financial products in seven major regions: Beijing-Tianjin-Hebei, Northeast, East China, South China, Central China, Northwest, and Southwest. From April 2014 to August 2017, Lantian Gerui launched ten financial products, luring people to illegally deposit their savings with promised investment returns of 1 to 3 times.

Qian Zhiming has also been involved in criminal activities in Hong Kong. In late March 2013, according to court documents, a certain Zhao joined the Hong Kong UBS International Group Limited (referred to as Hong Kong UBS International) pyramid scheme organized by Qian Zhiming and others. This organization attracted people to join under the name “Investment Camellia Oil Project,” using methods such as online promotion, on-site lectures, and field visits. The organization implemented a membership system, requiring each person to pay 2800 to obtain membership qualification, with no limit on additional investments, and the number of subordinate personnel serving as the basis for compensation or rebates. According to Zhao's testimony, Hong Kong UBS International was registered in September 2012 in Hong Kong, and the actual person in charge of Hong Kong UBS International, Li Xia, is Qian Zhiming.

In July 2017, when the collapse of Blue Sky Golden Ray finally broke out, Qian Zhiming chose to flee. She successfully escaped from China in July 2017 and entered the UK under the alias Zhang Yadi in September 2017. The British police later discovered that Qian Zhiming was involved in large-scale Bitcoin money laundering activities in the UK, with funds amounting to 32 billion RMB. The source of these Bitcoins was the funds she illegally raised during her operation of Blue Sky Golden Ray in China.

Who is Qian Zhiming?

The true identity of Qian Zhimin has always been a mystery. Investors' understanding of her is limited to the promotional materials of Lantian Ge Rui and some unverified rumors. Lantian Ge Rui claims that Qian Zhimin holds dual doctoral degrees from Tsinghua University, studied in the United States, and has a financial background. Such a background undoubtedly enhances her credibility in the eyes of investors. However, according to investigations by the British police and reports from China News Weekly, Qian Zhimin's true background is far more complex than these promotions suggest. She was born in 1978, comes from Rugao, Jiangsu, and had previously been involved in a pyramid scheme case in Hefei, Anhui, using the alias Li Xia. In 2014, she registered Lantian Ge Rui in Tianjin and began large-scale illegal financial fraud operations.

Qian Zhiming's background shows that she had a long history of illegal activities before conducting operations with Blue Sky Ge Rui. This also explains why she maintained a mysterious and secretive image throughout the operation of Blue Sky Ge Rui. Her control over risk and insight into investors' psychology allowed her to turn Blue Sky Ge Rui into a financial scam that spanned multiple fields.

Money Laundering and the Final Capture

After Qian Zhimin fled to the UK, she continued to launder money using Bitcoin and other cryptocurrencies. In 2021, the British police successfully apprehended her assistant, Wen Jian. However, Qian Zhimin remained low-key and managed to evade multiple manhunts. It wasn't until April 2024 that the British police finally arrested her. Qian Zhimin's story is a typical Ponzi scheme, but what’s most bizarre is that exaggerated rhetoric like “Three Generations of Wealth” can convince people. The real Qian Zhimin, who played the role of the God of Wealth, is just an unremarkable middle-aged woman, hiding among you and me without anyone noticing. Even if she is a repeat offender needing to conceal her true identity, she can still be elevated by the crowd effect, deceiving people without showing her face and gaining their trust, proving an old saying: Greed clouds judgment.

This article gives you three generations of wealth! The Chinese goddess of wealth Qian Zhimin's Bitcoin Money Laundering case reveals more exaggerated dark history, first appearing in Chain News ABMedia.