CoinVoice has learned that, according to CCTV reports, Yao Qian, former Director of the Science and Technology Supervision Department and former Director of the Information Center of the China Securities Regulatory Commission, was approached in 2018 by businessman Zhang, who was conducting an ICO. Zhang reportedly contacted a trading platform, and the ICO raised 20,000 ETH. The businessman transferred 2,000 ETH to Yao Qian as a reward and thanks.

The investigation team found a hardware wallet in a drawer of Yao Qian's office. Several bank accounts opened by others are actually Yao Qian's aliases. There is a sum of 10 million yuan, which, after approximately four layers of layering, was transferred from a virtual currency trader’s account and ultimately used to purchase a villa in Beijing.