According to reports from Shandong Legal Daily, the Licang District Procuratorate of Qingdao handled a Bitcoin theft case. The defendant, Zhang Moumou, obtained the mnemonic phrase while assisting a friend in registering a virtual currency wallet, and then transferred 107 BTC multiple times. Based on the market price on the same day, it was equivalent to more than 22.54 million yuan. Zhang Moumou argued that his actions were “protective custodial takeover,” but the prosecution found that the stolen BTC was transferred through multiple trading platforms and converted into 660,000 yuan. In the first instance, the Licang District Court sentenced Zhang Moumou to 10 years and 9 months’ imprisonment for theft and imposed a fine of 100,000 yuan; in the second instance, the original verdict was upheld. The report states that although virtual currencies do not have the status of legal tender, they have property attributes and can be the subject of theft charges.