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According to reports from Shandong Legal Daily, the Qingdao City Licang District Procuratorate handled a Bitcoin theft case.
The defendant, Zhang Moumou, obtained the mnemonic phrase while assisting an acquaintance in registering a virtual currency wallet, then transferred a total of 107 BTC in multiple transactions, which was equivalent to over 22.54 million RMB at the market price on that day.
Zhang Moumou claimed that his actions were "protective custody," but the prosecution found that he transferred the stolen BTC across multiple trading platforms and exchanged it for more than 660k RMB.
The Licang District Court sentenced Zhang Moumou to 10 years and 9 months in prison for theft in the first instance, and imposed a fine of 100k RMB; the second instance upheld the original verdict.
The report states that although virtual currencies do not have the status of legal tender, they possess property attributes and can be subject to theft charges.