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Special Task Force Penetrates Four Layers to Confirm Yao's Embezzlement Path, Complete Record of Fund Flow Revealed
Summary: Today, the TV special "Never Stop, Never Retreat" produced by the Central Commission for Discipline Inspection and the National Supervisory Commission in conjunction with CCTV aired its fourth episode titled "Technology Empowers Anti-Corruption". The episode specifically analyzed the case of Yao Qian, former director of the China Securities Regulatory Commission's Science and Technology Supervision Department ...
Today, the TV special "Never Stop, Never Retreat" produced by the Central Commission for Discipline Inspection and the National Supervisory Commission in conjunction with CCTV aired its fourth episode titled "Technology Empowers Anti-Corruption". The episode specifically analyzed the case of Yao Qian, former director of the China Securities Regulatory Commission's Science and Technology Supervision Department and former director of the Information Center.
The episode extensively introduced the storage and transfer mechanism of virtual currencies, pointing out that using virtual currency to conceal corrupt proceeds is just a new form of corruption and hidden corruption. Cai Kunting, a staff member of the Shantou Municipal Commission for Discipline Inspection and Supervision in Guangdong Province, said: "When conducting searches, two items must be controlled: whether there is a hardware wallet and whether there are some pieces of paper with irregular mnemonic words written on them, which are crucial in the search process."
The special task force used blockchain technology to trace the flow of 2000 Ethereum from Zhang's Ethereum wallet address to Yao's Ethereum wallet address in 2018, as well as the complete record of Yao transferring 370 Ethereum and exchanging it for 10 million RMB in 2021. The task force conducted electronic evidence collection in accordance with regulations, discipline, and laws, achieving mutual corroboration of all evidence and forming a closed loop. Faced with such solid evidence chain, Yao had to admit to his disciplinary and illegal acts.
The episode emphasized that under the high-pressure anti-corruption situation, no matter how corrupt methods evolve or how hidden they become, as long as the essence of corruption, namely the exchange of power and money, is firmly grasped, and strict adherence to regulations, discipline, and laws, along with the full use of information technology such as big data, to enhance identification and investigation efforts, continuously enriching effective prevention and control methods, any form of corruption will have nowhere to hide.
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Link: Special Task Force Penetrates Four Layers to Confirm Yao's Embezzlement Path, Complete Record of Fund Flow Revealed [Copy]
