A man from Shandong was sentenced to 10 years and 9 months in prison for stealing 107 bitcoins from the victim.

Odaily Planet Daily News The Licang District Procuratorate of Qingdao City issued a notice stating that the defendant, Zhang Moumou, obtained the mnemonic phrase by taking the opportunity to register a cryptocurrency wallet on behalf of the victim, and transferred 107 bitcoins belonging to the victim, Feng Moumou, in multiple batches in the early morning. Zhang Moumou subsequently transferred the bitcoins through several virtual currency trading platforms layer by layer, converting them into over 660,000 yuan in Chinese Renminbi. The Qingdao Licang District People's Court sentenced Zhang Moumou to 10 years and 9 months in prison for theft and imposed a fine of 100,000 yuan.

After the defendant appealed, the Qingdao Intermediate People's Court rejected the appeal and upheld the original verdict. The actual proceeds from the illegal sale amounting to over 660,000 yuan were identified as the amount of the theft loss. (Shandong Legal Daily)