CCTV revealed details of Yao Qian's corruption: he accepted bribes using cryptocurrency to purchase a 20 million yuan villa in Beijing and received 2,000 ETH as a thank-you fee.

PANews reported on January 14th that the fourth episode of CCTV's anti-corruption documentary, "Technology Empowering Anti-Corruption," broadcast this evening, revealed that Yao Qian, former director of the Information Center of the China Securities Regulatory Commission and the first director of the Digital Currency Research Institute, was involved in serious corruption. The investigation found that he used hardware wallets to store virtual currencies, involving tens of millions of yuan, and received tens of millions of yuan from virtual currency traders through "shell accounts," which he used to purchase a 20 million yuan villa in Beijing registered under the names of relatives.

Yao Qian received 12 million yuan in bribes from businessman Wang through his subordinate Jiang Guoqing (a key intermediary). By helping a certain project team to raise 20,000 ETH through an ICO on an exchange, the project team returned 2,000 ETH as a thank-you fee in 2018 (with a maximum market value of 60 million yuan). Yao Qian then converted 370 of these ETH into approximately 10 million yuan in 2021.