The main suspect in the 60,000 BTC Money Laundering case, Qian Zhimin, bought a total of 194,951 BTC from 2014 to 2017.

On November 16, according to Caixin, during the period from 2014 to 2017, Qian Zhimin, using the name of Lantian Ge Rui, launched ten “wealth management products” such as “Lantian No. 1,” “Lantian No. 2,” and “You Li You Bi,” which promised “zero risk and high returns.” By holding promotional meetings and developing downlines in a “pyramid scheme” manner, he lured the public to invest with high interest rates, accumulating a total illegal fundraising amount of over 40 billion yuan within about four years, affecting nearly 130,000 people. Of these funds, 34 billion yuan was used to pay the returns of earlier products, and several billion yuan was siphoned off for Qian Zhimin and his accomplices, among which a large sum was used by Qian Zhimin to purchase Crypto Assets. From the UK court, it was learned that in June 2014, Qian Zhimin instructed his “frontman” to open an account for himself on the Crypto Assets trading platform CEX (CEX), using 180 million yuan of investor funds to purchase 100,250 coins of Bitcoin; subsequently, the Bitcoin in that account increased to 143,951 coins. Between January and June 2017, he also purchased 51,000 coins of Bitcoin through OTC Trading using 468 million yuan of investor funds. By this time, Qian Zhimin had purchased a total of 194,951 coins of Bitcoin. Qian Zhimin's defense lawyer stated that she first learned about Bitcoin in 2012, and “her ambition was to hold 210,000 coins of Bitcoin, accounting for 1% of the total Bitcoin supply.” She nearly achieved this goal. The defense lawyer also stated that the average price at which Qian Zhimin purchased Bitcoin on CEX was 2,815 yuan per coin (statistical standards unknown). On the day of her sentencing in the UK, the price of Bitcoin had risen 266 times to 750,000 yuan per coin.