PANews reported on June 3 that, according to the Shandong Legal Daily, a Bitcoin theft case prosecuted by the Licang District Procuratorate of Qingdao City has been adjudicated. The defendant, Zhang, was sentenced to 10 years and 9 months imprisonment for theft and fined 100,000 yuan. In the early morning of a certain day in 2024, the victim, Feng, had his cryptocurrency wallet quietly logged into, and 107 Bitcoins were transferred out, equivalent to more than 22.54 million yuan at the market price that day. An investigation revealed that Feng had entrusted an acquaintance, Zhang, to assist in the operation. Zhang obtained the mnemonic phrase during the wallet registration process and, after multiple attempts in the early morning, cracked the wallet and transferred the Bitcoins. After being apprehended, Zhang claimed that his actions were a "protective takeover" to prevent the Bitcoins from being stolen by others. However, the procuratorate traced the funds and found that the stolen Bitcoins had been transferred through multiple layers and exchanged for more than 660,000 yuan, exposing his lie.

The prosecution determined that Bitcoin possesses economic value and exclusive control, meeting the core characteristics of "property" under criminal law, and thus qualifying as an object of theft. The actual proceeds from the sale of the stolen goods, exceeding 660,000 yuan, were used as the amount of theft. After the defendant appealed, in November 2025, the Qingdao Intermediate People's Court upheld the original verdict and dismissed the appeal. This case is a typical example of Qingdao's legal punishment of crimes in the virtual currency field, clearly conveying the judicial attitude: virtual currency-related activities must be conducted within the legal framework, and stealing others' virtual property also constitutes a crime.