TechFlow News, June 3: According to a report by Shandong Legal System Daily, the Jimo District People’s Procuratorate in Qingdao City successfully handled a Bitcoin theft case. The defendant, Zhang Moumou, exploited the victim Feng Moumou’s entrustment of wallet operation to steal his mnemonic phrase and, during the early hours, stole 107 Bitcoins—valued at approximately RMB 22.54 million based on the market price on the day the crime was discovered. Zhang then laundered the stolen funds through multiple platforms before ultimately converting them into RMB 660,000.
After apprehension, Zhang attempted to justify his actions as a “protective takeover,” but prosecutors thoroughly refuted this claim by tracing the fund flow. The court sentenced Zhang to 10 years and 9 months’ imprisonment for theft and imposed a fine of RMB 100,000; the appellate court upheld the original verdict. This case explicitly affirms that virtual currencies possess property attributes protected under criminal law, providing judicial guidance for combating similar emerging cybercrimes.
