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A man in Xiamen, China stole someone else's cryptocurrency and has been legally charged with theft.
BlockBeats News, January 3rd, according to Xiamen Evening News, a man stole over 1.6 million yuan worth of cryptocurrency by hacking after his friend incurred losses in futures investment. Recently, the Huli District People's Procuratorate in Xiamen, China, brought charges against this theft case.
In September 2021, the defendant, Chen, was introduced to the victim, Hong, by a friend. At that time, Hong had a strong interest in cryptocurrency investment, and Chen, who had some knowledge in this area, was entrusted by Hong to help with cryptocurrency investment, providing his own account and login password.
In June 2022, while helping a friend with futures investments, Chen suffered losses and accumulated debts. Chen then conceived the idea of stealing the virtual currency from Hong's account.
In late September 2022, Chen fabricated a lie about the account being disconnected, used this to deceive Hong into providing various verification codes, successfully changed the account's login password, and switched the account's bound email to his own. At this point, Hong's account was under Chen's control.
Subsequently, Chen repeatedly deceived Hong into providing real-time verification codes under the pretext of the account being disconnected, continuously transferring the virtual currency in Hong's account to his own account. He then quickly sold these cryptocurrencies for over 1.6 million yuan in profit, using all the funds to repay his personal debts.
In May 2024, Chen took the initiative to surrender to the police station and truthfully confessed his crimes.
The Huli District People's Procuratorate prosecuted Chen for theft. According to Article 264 of the Criminal Law, those who steal public or private property, with an especially large amount or other particularly serious circumstances, shall be sentenced to more than ten years of fixed-term imprisonment or life imprisonment, and may be fined or have their property confiscated.
