A man was sentenced to 11 years in prison for profiting over 1.6 million yuan from the illegal sale of virtual currency
According to ChainCatcher news and reports from the Xiamen Procuratorate's official account, in September 2021, a man surnamed Chen met the victim, Hong, through a friend's introduction. At that time, Hong had a strong interest in virtual currency investment, and Chen had some knowledge in this area, so Hong entrusted Chen to assist with virtual currency investments, even carelessly sharing his account and login password with him.While helping a friend invest in futures, Chen suffered significant losses that left him overwhelmed with debt, leading him to develop malicious thoughts. At the end of September 2022, Chen fabricated a story about his account being disconnected to deceive Hong into providing various verification codes. He then successfully changed the account's login password and replaced the linked email with his own. Subsequently, Chen repeatedly claimed that the account was disconnected and used real-time verification codes to secretly transfer the virtual currency from Hong's account to his own. He quickly sold these virtual currencies, making a profit of over 1.6 million yuan, which he used entirely to repay his personal debts.The Huli District Procuratorate legally prosecuted Chen for theft. According to Article 264 of the Criminal Law of the People's Republic of China, theft of public or private property, with particularly large amounts or other particularly serious circumstances, is punishable by more than ten years of fixed-term imprisonment or life imprisonment, and may also involve fines or confiscation of property.After hearing the case, the court sentenced Chen to eleven years in prison for theft and imposed a fine.
