According to a report by Shandong Legal Daily, the Li Cang District Procuratorate in Qingdao handled a Bitcoin theft case. The defendant, Zhang XX, obtained the mnemonic phrase while assisting an acquaintance in registering a cryptocurrency wallet and later transferred 107 BTC in multiple transactions. Based on the market price at the time, this was equivalent to over 22.54 million RMB. Zhang claimed his actions were a 'protective takeover,' but the prosecution found that he had transferred the stolen BTC through multiple trading platforms and converted it into over 660,000 RMB. The Li Cang District Court sentenced Zhang to 10 years and 9 months in prison for theft in the first trial and fined him 100,000 RMB; the second trial upheld the original verdict. The report stated that while virtual currencies do not have the status of legal tender, they possess property attributes and can be the subject of theft crimes. https://(wublock123.com)/news/man-steals-107-btc-from-acquaintance-sentenced-10y9m-61937