# Yao Qian Articles associés

Accepting Virtual Currency Worth Tens of Millions, Hardware Wallet Placed in Office Drawer! Details of the Case of Yao Qian from the China Securities Regulatory Commission Disclosed

Chinese securities regulator Yao Qian, former head of the Technology Supervision Department at the China Securities Regulatory Commission (CSRC), was involved in a major corruption case involving millions in cryptocurrency bribes. Details reveal he accepted 2,000 Ether (valued at over 60 million yuan at peak) from a cryptocurrency executive in exchange for assisting with a token issuance project. Yao stored the virtual assets in hardware wallets, which were discovered in his office drawer during an investigation. He also used shell accounts and intermediaries to conceal bribes, including a 10 million yuan payment used to buy a luxury villa in Beijing. The case, investigated by Central Commission for Discipline Inspection and National Supervisory Commission, highlights the use of big data and blockchain analysis to trace virtual currency transactions despite their perceived anonymity. Yao was expelled from the Communist Party and public office in November 2024 and faces criminal prosecution. The investigation underscores China’s focus on combating new forms of corruption in the digital asset space.

比推01/14 17:56