Techub News reports that according to CCTV,姚前, the former director of the Digital Currency Research Institute, was asked by businessman Zhang in 2018 to assist with listing coins on an exchange during his first initial coin offering (ICO). The ICO successfully raised 20,000 Ethereum, and Zhang subsequently transferred 2,000 Ethereum to姚前 as compensation. Investigators found a hardware wallet in姚前's office drawer. The case team also discovered that姚前 had opened multiple bank accounts under others' names as "masks," with one transaction involving 10 million yuan passing through approximately four layers of fund transfers, originating from a virtual currency trading company's account, and ultimately used to purchase a villa in Beijing.