Deep Tide TechFlow News: On June 03, according to Shandong Legal Daily, the Licang District Procuratorate in Qingdao successfully handled a Bitcoin theft case. The defendant, Zhang Moumou, took advantage of the victim, Feng Moumou’s, entrustment to operate his wallet, and stole his mnemonic phrase. In the early hours, he stole 107 Bitcoins, worth approximately RMB 22.54 million based on the market price on the day the case occurred. He then transferred the funds through multiple platforms in stages, and ultimately exchanged them for more than RMB 660,000.

After Zhang Moumou was taken into custody, he tried to wriggle out of liability by using “protective takeover” as an excuse. The procuratorial authorities, through tracing the money trail, exposed his scheme one by one. The court sentenced Zhang Moumou to fixed-term imprisonment of 10 years and 9 months for theft and imposed a fine of RMB 100,000. After an appeal, the original verdict was upheld. This case clearly affirms that virtual currencies have the attribute of property protected by criminal law, providing guidance for judicial practice in combating similar new types of cybercrime.