#加密钱包隐私保护 Based on the latest developments in the Qian Zhimin case, there are still many challenges in the process of fund tracking and asset recovery. The whereabouts of over 120,000 bitcoins remain unknown, especially the 20,000 "password-lost" bitcoins, highlighting the powerful privacy protection features of encrypted assets. On one hand, this demonstrates the advantages of blockchain technology in safeguarding personal property; on the other hand, it also presents significant difficulties for law enforcement agencies. From the perspective of on-chain data analysis, these "disappeared" bitcoins have likely been transferred through mixing or cross-chain methods, increasing the difficulty of tracking. This case once again illustrates that in the cryptocurrency field, the contradiction between asset privacy and regulation remains prominent, and there is an urgent need to establish more comprehensive regulatory mechanisms and technical solutions.