Former Digital Currency Institute Head Allegedly Received 2,000 ETH for ICO Favor

2026-01-14 20:36

Former head of the Digital Currency Institute, Yao Qian, is reportedly under investigation for allegedly receiving 2,000 ETH as a reward for facilitating an ICO in 2018. According to reports, businessman Zhang sought Yao's influence to gain favor with a cryptocurrency exchange, resulting in the ICO raising 20,000 ETH. Authorities discovered a hardware wallet in Yao's office, and several bank accounts linked to him were found to be shell accounts. These accounts reportedly received 10 million yuan, funneled through multiple layers from a cryptocurrency trader's account, which was ultimately used to purchase a villa in Beijing.

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