Original Author: Lawyer Deng Xiaoyu

(February 2026 marks the one-year anniversary of accepting the commission from a certain domestic major cryptocurrency exchange. The second trial intervened, and although the result did not change the not guilty verdict, it is indeed frustrating, but a rare second trial revision was achieved, which is sufficient to write this as a record, to encourage this year's work.)

Commission

At the beginning of 2025, I was still in the process of transferring my legal relationship to Mankun and received the family members of the client from the cryptocurrency exchange (hereinafter referred to as "the Exchange") in Shenzhen.

During the reception, I learned that this is a well-known case (it is likely the largest exchange in the country). The client is now identified as the principal offender for being responsible for the perpetual contracts segment, accused of operating a casino. In the first trial, a criminal law professor from a certain university was commissioned to defend, and two prominent scholars in the legal field, Zhang and Chen, provided expert opinions, all of which acknowledged that perpetual contracts are not gambling, and this case does not constitute the crime of operating a casino.

(The image material comes from the internet and is unrelated to the case)

However, the first trial judgment did not meet the family’s expectations, and they wanted to change to a criminal lawyer knowledgeable in the Web3 industry for the second trial, so they contacted me.

The communication for the commission went very smoothly. The family understands that the difficulty of revising the judgment in the second trial is quite high, but they are very willing to make further attempts. My credentials needed to be submitted for some time due to the transfer, so I also had the family appoint another criminal lawyer from our Mankun office—Lawyer Gao Mengyang (this was my first collaboration with Gao, laying the foundation for a revolutionary friendship). I urged immediate meetings and reviews of the case files so we could assess the case in a timely manner.

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Not long after, Gao and I met with the client, whom I will refer to as "Second Brother" (舅 brother), in this city without high-speed rail. After more than a year of detention, he had gotten used to it and was in good spirits, with clear thinking.

Because we all understood Web3, there was no need to popularize many information concepts, and trust was established quickly. He actively described the

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