The main suspect in the 60,000 BTC money laundering case, Qian Zhimin, purchased a total of 194,951 BTC from 2014 to 2017.

According to BlockBeats news on November 16, Caixin reported that during the period from 2014 to 2017, Qian Zhimin launched ten "zero-risk, high-return" financial products such as "Lantian No. 1," "Lantian No. 2," and "Youli Youbi" under the name of Lantian Ge Rui. By holding promotional meetings and using a "pyramid scheme" to recruit people, she lured the public into investing with high-interest rates, accumulating a total non-bank fundraising amount exceeding 40 billion yuan over about four years, affecting nearly 130,000 people. Of this funding, 34 billion yuan was used to pay the returns of earlier products, while several billion yuan was siphoned off for Qian Zhimin and her accomplices, with a large amount being used by Qian Zhimin to purchase cryptocurrencies.

From a UK court, it was learned that in June 2014, Qian Zhimin instructed her "front person" to open an account for her on the cryptocurrency trading platform Huobi, using 180 million yuan of investors' funds to purchase 100,250 bitcoins; subsequently, the number of bitcoins in that account increased to 143,951. Between January and June 2017, she also purchased 51,000 bitcoins using 468 million yuan of investors' funds through over-the-counter (OTC) trading. Thus, Qian Zhimin purchased a total of 194,951 bitcoins.

Qian Zhimin's defense attorney stated that she first learned about bitcoin in 2012, and her ambition was to one day hold 210,000 bitcoins, accounting for 1% of the total bitcoin supply. She nearly achieved this goal. The defense attorney also mentioned that Qian Zhimin's average purchase price for bitcoins on Huobi was 2,815 yuan per bitcoin (the statistical criteria are unknown). By the time of her sentencing in the UK, the price of bitcoin had risen 266 times to 750,000 yuan per bitcoin.