The trial for the 7 billion dollar Bitcoin fraud case will begin in London.

The trial of Zhimin Qian, the mastermind behind the $7 billion cross-border investment fraud, will begin in London on September 29. The case could set a precedent for how the UK authorities handle compensation in financial crimes related to cryptocurrency.

Qian, a Chinese citizen, has been accused of running a Ponzi scheme through Tianjin Lantian Gerui Electronics Technology Company from 2014 to 2017, defrauding nearly 130,000 investors with promises of 100–300% returns. The scheme collapsed after China's comprehensive ban on cryptocurrencies in 2017, and Qian fled to the UK and laundered money into Bitcoin, which is currently worth about $7 billion.

The British authorities seized 61,000 BTC during the period of 2018–2021 related to accomplice Jian Wen, who was convicted of money laundering in 2024. Legal experts warn that the cross-border nature makes prosecution difficult.