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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…

COINOTAG does not provide financial advisory services. This content is for informational purposes only and should not be considered investment advice. Cryptocurrency investments involve high risk.

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Cointelegraph Staff · Cointelegraph

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