Special Task Force Four-Layer Penetration Confirmation Yao Qian's Illicit Funds Flow Path, Where the Flow of Funds is Completely and Thoroughly Documented

BlockBeats News, January 14th, today, the fourth episode of the TV special documentary "Never Stop, Never Retreat" produced by the Central Commission for Discipline Inspection of the Communist Party of China, the National Supervisory Commission, and CCTV was broadcasted, focusing on "Technology Empowering Anti-corruption." The documentary specifically mentioned the corruption case of Yao Qian, former Director of the Science and Technology Regulatory Commission of the China Securities Regulatory Commission and former Director of the Information Center, who, in 2018, accepted 2000 ETH as a "thank you gift" from a businessman named Zhang for his involvement in an ICO.

The documentary extensively introduced the mechanism of virtual currency storage and transfer, pointing out that using virtual currency to conceal embezzled funds is just a new form of corruption and implicit corruption. Cai Kunting, an official from the Shantou City Commission for Discipline Inspection and Supervision in Guangdong Province, stated: "During a search, two items are crucial to seize. The first is whether there is a hardware wallet; the second is whether there are some pieces of paper with irregular mnemonic words written on them, which are vital during the search."

The task force utilized blockchain technology and was able to trace the flow of 2000 ETH from Zhang's Ethereum wallet address to Yao Qian's Ethereum wallet address in 2018 and also track Yao Qian's transfer of 370 ETH in 2021, exchanging it for 10 million RMB, creating a complete record of the transaction. The task force conducted electronic forensics in accordance with regulations and discipline, achieving mutual corroboration of all evidence and forming a closed loop. Faced with such solid evidence chain, Yao Qian had to admit to his disciplinary and legal violations.

The documentary emphatically stated that under the high-pressure anti-corruption situation, no matter how corruption methods evolve or how hidden they become, as long as the essence of corruption, the transaction of power and money, is tightly grasped, and strict adherence to regulations, discipline, and laws is upheld, fully leveraging technologies such as big data, intensifying identification and investigation efforts, continually enriching effective prevention and control methods, any form of corruption will have no place to hide.