TechFlow reported on January 14, according to CCTV, that Yao Qian, former director of the Digital Currency Research Institute, was entrusted in 2018 by Zhang, a businessman who conducted an ICO, to intervene with a certain cryptocurrency exchange. The ICO raised 20,000 ETH, and the businessman gave Yao Qian 2,000 ETH as payment. Investigators found a hardware wallet in a drawer at Yao Qian's office. Several bank accounts opened under other people's names were identified as Yao Qian's alias accounts. A sum of 10 million yuan, traced through approximately four layers of transactions, originated from a virtual currency trader's account and was ultimately used to purchase a villa in Beijing.
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