107 BTC, 50 million RMB, 10 years and 9 months.

Zhang Moumou helped a familiar acquaintance register a wallet, secretly recorded the seed phrase, and transferred the funds away in multiple rounds.
“Protective takeover” — this defense could be considered the joke of the year. Put into plain terms: “I’ll keep it safe for you so you don’t lose it.”
So what happened next? He sold 107 BTC across various trading platforms and converted them into 660,000 RMB.
A 50 million RMB BTC holding was ultimately sold for only 660,000 — it’s not that BTC is worthless, but that urgent liquidation required a discount and a forced fire sale. Even more ironic is the logic of the prosecution’s “amount determination”: they didn’t calculate based on the 50 million at market price, but based on the 660,000 obtained from the proceeds of the sale of the stolen crypto. What does that mean? The theft amount equals the actual money received, not the market value of the assets that were stolen.
Zhang Moumou may have stolen 107 BTC (worth 50 million), but he only sold them for 660,000 — he was sentenced based on 660,000 to 10 years and 9 months. If he had sold all 107 at the peak, the amount would have been 50 million, which could have led to a life sentence. The gap between 660,000 and 50 million is the cost of “liquidation capability.” BTC is worth 50 million on-chain, but to a thief who is desperate to cash out, it is worth only 660,000.
The most intriguing part of this case is the prosecution’s legal determination of Bitcoin’s nature: “Although our country’s regulatory policies deny the status of virtual currency as legal tender, they do not deny its property attributes.”
Translation: You can’t spend it like money, but you can steal it as property. China’s regulatory policy has always been “deny its monetary attribute while preserving its property attribute” — and this outcome had already become a judicial consensus after a People’s Bank of China notice in September 2021.
‍#成长值抽奖赢金条 $OPG