Chinese court treats Bitcoin as property in 107 BTC memory theft case (opens original article in a new tab)

A Chinese court sentenced a man to 10 years and nine months in prison for stealing 107 Bitcoin by memorizing a victim's wallet seed phrase and later cashing out over $97,000. The court classified Bitcoin as property under criminal law.

• A man stole 107 Bitcoin by memorizing part of a victim's 12-word wallet seed phrase.
• The court sentenced the perpetrator to 10 years and nine months in prison and fined him 100,000 yuan.
• Bitcoin was classified as property under Chinese criminal law in this case.