Qingdao Court Affirms Bitcoin's Property Status in Theft Case

2026-06-03 15:24

A Qingdao court has ruled in a Bitcoin theft case, affirming the property status of virtual currencies under criminal law. The Jimo District People’s Procuratorate successfully prosecuted Zhang Moumou, who stole 107 Bitcoins, valued at RMB 22.54 million, from Feng Moumou by exploiting access to his cryptocurrency wallet. Zhang laundered the assets through multiple platforms, converting them into RMB 660,000. Zhang's defense of "protective takeover" was rejected, and he was sentenced to 10 years and 9 months in prison, with a RMB 100,000 fine. The court's decision, upheld on appeal, provides judicial guidance for addressing cybercrimes involving virtual currencies.

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