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The post Biggest bitcoin fraud trial could redefine crypto justice in the UK appeared com. A high-stakes criminal trial that could shape how British courts handle cryptocurrency-related crime compensation is set to open in London on September 29. The defendant, Chinese national Zhimin Qian, is accused of masterminding a cross-border investment fraud whose proceeds were converted into Bitcoin, now valued at about $7 billion. Prosecutors say Qian ran a scheme in China that drew in nearly 130, 000 people. Investigators allege she directed operations through Tianjin Lantian Gerui Electronic Technology Co., and, between 2014 and 2017, promoted a Ponzi-style product that promised eye-catching returns of 100% to 300%. The plan unraveled in 2017 after China put in place a nationwide ban on crypto, and authorities say Qian fled to the UK that year and moved the schemes proceeds into Bitcoin. Qian now faces her own criminal case in the UK. But legal specialists warn that the international character of the alleged wrongdoing may complicate efforts to secure a conviction. The cross-border nature makes the prosecution of Qian an uphill struggle for UK prosecutors, said Yuhua Yang, a partner at London-based Thornhill Legal. Yang noted that the alleged fraud unfolded in China, with no UK companies or entities involved and no assets passing through British financial institutions. From the criminal perspective, the burden of proof rests on the prosecution for English proceedings, she said as mentioned in a Decrypts report. It can be challenging for the UK authorities to collect evidence from China, such as victim statements, financial records and company documents of Lantian Gerui, to prove the Bitcoins were derived from fraudulent fundraising in China. UK Prosecutors target crypto possession in Qian Case The CPS has not charged Qian with fraud or money laundering. Instead, prosecutors say she unlawfully held and moved cryptocurrency, and that she acquired, used, or possessed criminal property. Some lawyers say this.