Yao Qian Bribery Case Details: Hoarded Cryptocurrency for Three Years After Receiving Stolen Money, Partially Cashed Out to Buy a Villa During the 21W "Runaway Peak"

BlockBeats News, January 14th, Today, the fourth episode of the TV special "Moving Forward Without Stopping, Never Retreating" produced by the Central Commission for Discipline Inspection of the CPC Central Committee, the National Supervisory Commission, and CCTV was broadcasted, highlighting "Technology Empowering Anti-Corruption." The episode specifically mentioned the corruption case of Yao Qian, former director of the Science and Technology Regulatory Bureau of the China Securities Regulatory Commission and former director of the Information Center, who, in 2018, received 2000 ETH as a "thank-you gift" from businessman Zhang for assisting in an ICO.

The episode extensively introduced the virtual currency storage and transfer mechanism, pointing out that using virtual currency to conceal corrupt proceeds is just a new form of corruption and covert corruption. Cai Kunqing, a staff member of the Shantou Municipal Commission for Discipline Inspection and Supervision in Guangdong Province, stated: "When conducting a search, two key items to look for are whether there is a hardware wallet and whether there are some paper notes with irregular mnemonic phrases written on them. These are crucial during a search." It was the specialized task force that found a hardware wallet in a drawer in Yao Qian's office, which became key evidence in Yao Qian's case.

The task force used blockchain technology to not only trace the transfer chain of 2000 ETH from Zhang's Ethereum wallet address to Yao Qian's Ethereum wallet address in 2018 but also to trace Yao Qian's transfer of 370 ETH in 2021, converting it into a record of 10 million RMB. The task force conducted electronic evidence collection in accordance with regulations, discipline, and laws, achieving mutual corroboration of all evidence and forming a closed loop. Faced with such a solid chain of evidence, Yao Qian had to admit to his disciplinary and illegal acts.

The episode emphasized that while virtual currency may seem intangible, once someone wants to use it in the real world, it cannot remain virtual and will definitely "materialize" somewhere.