TechFlow, April 19 — According to the Xiamen Procuratorate official account, a man surnamed Chen was sentenced to 11 years in prison for illegally selling cryptocurrencies and profiting over 1.6 million yuan. Chen fabricated a story about his account being disconnected, tricked the victim into providing various verification codes, and used real-time verification codes to secretly transfer cryptocurrencies from Hong's account into his own. He then quickly sold the cryptocurrencies, making over 1.6 million yuan, all of which he used to repay personal debts.
The Huli District People's Procuratorate filed a public prosecution against Chen on charges of theft. According to Article 264 of the People's Republic of China Criminal Law, whoever steals public or private property with an especially large amount involved or other especially serious circumstances shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and shall also be fined or have his property confiscated. After trial, the court found Chen guilty of theft and sentenced him to eleven years' imprisonment and a fine.
