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via Cointelegraph · By Cointelegraph Staff

Chinese Man Jailed for 107 Bitcoin Theft After Memorizing Wallet Mnemonic

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Cointelegraph Staff

(11:23 AM UTC)

1 min read

Reviewed byEmily Watson

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A court in the eastern Chinese city of Qingdao sentenced a man to 10 years and nine months in prison for stealing 107 Bitcoin after memorizing most of a victim’s 12-word wallet seed phrase.

The Licang District People's Court sentenced the perpetrator, identified as Zhang, to prison and fined him 100,000 yuan (about $14,700) after finding he took control of the victim’s wallet and later cashed out…

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Cointelegraph Staff · Cointelegraph

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