Qingdao announces Bitcoin theft case, Zhang sentenced to 10 years and 9 months in prison

According to Shandong Legal Daily, the Licang District Prosecutor's Office in Qingdao announced a verdict on a Bitcoin theft case. The defendant, Zhang, was sentenced to 10 years and 9 months in prison and fined 100000 yuan for stealing 107 bitcoins. At the time of the incident, the victim Feng's wallet was logged in and Bitcoin worth approximately 22.54 million yuan was transferred. Zhang used the mnemonic words obtained when registering the wallet on behalf of others to crack the wallet and commit theft, claiming it was a "protective takeover". The prosecutor's office discovered through fund tracing that Bitcoin had been exchanged for over 660000 RMB, exposing its lies.