Wu Shuo learned that, according to CCTV reports, former director of the Digital Currency Research Institute Yao Qian was approached by a businessman named Zhang in 2018, who was conducting an ICO. The ICO raised 20,000 ETH, and the businessman transferred 2,000 ETH to Yao Qian as a reward. The investigation team found a hardware wallet in a drawer of Yao Qian's office. Several bank accounts opened by others are aliases of Yao Qian, with a sum of 10 million yuan, which was transferred through approximately four layers of penetration from a virtual currency trader’s account, ultimately used to purchase a villa in Beijing.