A man in Shandong was sentenced to 10 years and 9 months in prison for transferring 107 bitcoins from a victim

Odaily reported that the Qingdao Licang District Procuratorate issued a notice stating that the defendant, Zhang, took advantage of an opportunity to help register a virtual currency wallet to obtain the mnemonic phrase. In the early hours, he transferred 107 bitcoins belonging to the victim, Feng, in multiple transactions. Zhang then moved the bitcoins through several virtual currency trading platforms, ultimately converting them into over 660,000 RMB. The Qingdao Licang District People's Court sentenced Zhang to 10 years and 9 months in prison for theft in the first instance, along with a fine of 100,000 RMB.

After the defendant appealed, the Qingdao Intermediate People's Court rejected the appeal and upheld the original verdict. In this case, the actual proceeds from the crime, amounting to over 660,000 RMB, were determined as the amount of theft. (Shandong Legal News)