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According to Shandong Legal News, a Bitcoin theft case prosecuted by the Li Cang District Prosecutor's Office in Qingdao has been sentenced. The defendant, Zhang, was sentenced to 10 years and 9 months in prison for theft and fined 100,000 yuan.In the early hours of a certain day in 2024, the virtual currency wallet of the victim, Feng, was quietly accessed, and 107 Bitcoins were transferred, equivalent to over 22.54 million yuan at the market price on that day. It was found that Feng had entrusted an acquaintance, Zhang, to assist with the operation. During the process of registering the wallet on behalf of Feng, Zhang obtained the mnemonic phrase, and after multiple attempts in the early morning, he cracked the wallet and transferred the Bitcoins. After being apprehended, Zhang claimed that his actions were a "protective takeover" to prevent the Bitcoins from being stolen by others. The prosecution traced the funds and found that the stolen Bitcoins were transferred multiple times and exchanged for over 660,000 yuan, exposing his lies.The prosecution determined that Bitcoin has economic value and exclusive control, meeting the core characteristics of "property" in criminal law, and can be the object of theft. The actual proceeds from the sale of the stolen Bitcoins, amounting to over 660,000 yuan, were used as the basis for the theft amount. After the defendant appealed, in November 2025, the Qingdao Intermediate People's Court ruled to dismiss the appeal and upheld the original sentence. This case is a typical example of Qingdao's legal punishment of crimes in the virtual currency field, clearly conveying the judicial stance: activities related to virtual currency must be conducted within the legal framework, and stealing others' virtual property also constitutes a crime.

Recently, the People's Procuratorate of Licang District, Qingdao City, Shandong Province, China, handled a Bitcoin theft case. The defendant, Zhang, obtained the mnemonic phrase while assisting an acquaintance in registering a virtual currency wallet, and later transferred 107 BTC in multiple transactions, equivalent to over 50 million yuan at current market prices. Zhang argued that his actions were a "protective takeover," but the prosecution found that he transferred the stolen BTC through multiple trading platforms and exchanged it for over 660,000 yuan. The Licang District Court sentenced Zhang to 10 years and 9 months in prison for theft and imposed a fine of 100,000 yuan; the second instance upheld the original judgment.Reports indicate that the prosecutor handling the case strictly adhered to laws and judicial policies, and after in-depth analysis, concluded that although China's regulatory policies deny the legal currency status of virtual currencies, they do not negate their property attributes, nor do they prohibit citizens from legally holding and circulating them. Bitcoin requires investment in computing power, funds, and other costs to acquire, which gives it economic value; rights holders can achieve exclusive control and management through private keys and mnemonic phrases, aligning with the core characteristics of "property" in criminal law, making it a target for theft. In determining the amount, since virtual currencies have no official pricing, the Licang District Procuratorate discarded market price estimates and used the actual proceeds from the crime of over 660,000 yuan as the amount for theft, ensuring accurate conviction, appropriate sentencing, and unity of guilt and punishment.

According to Jinshi News, FXEM analyst Abdelaziz Albogdady stated that although the dollar has stabilized after falling to multi-year lows, it still faces downside risks. The weakness of the dollar is mainly due to Trump's comments signaling tolerance for currency depreciation, raising concerns that Trump may nominate a more dovish Federal Reserve chairman, which would imply looser monetary policy and decreased institutional independence. Coupled with widespread unease over domestic political risks in the United States, the dollar remains under pressure. Any dovish tendencies could exacerbate the downward pressure on the dollar and U.S. Treasury yields.

ChainCatcher news, according to Cryptonews, merchants in the Dongdaemun market of South Korea have denied reports of large-scale adoption of USDT payments. Previously, it was reported that merchants in this market, particularly wholesalers targeting Chinese customers, were using USDT for international transactions. However, several merchants stated that cash remains the primary payment method, and the actual use of stablecoins is not widespread.

ChainCatcher news, Genesis Digital Assets Limited (GDA) has launched a new project in Norsjö, Sweden, utilizing the residual heat from one of its Bitcoin mining data centers to heat local garages.GDA operates 20 data centers with 600 megawatts (MW) of hash power and over 180,000 mining devices, and has partnered with Muttern Fastigheter to initiate a heating program. The project redirects waste heat from GDA's data center operations, providing 90,000 cubic meters of heated air at a rate of 52°C per hour in a 1,200 square meter garage, addressing the urgent needs of Västerbotten County, where temperatures can drop as low as -25°C.

ChainCatcher news, the Seoul Central District Court ordered on July 31 that the closed virtual asset exchange GDAC return 7.8 million WEMIX tokens (worth approximately 7.31 million USD) to Wemade CEO Park Kwan-ho.The court supported Park Kwan-ho's application for a temporary injunction for the delivery of virtual assets submitted on July 29. If GDAC fails to comply with the order within 30 days, it will pay Park a daily fine of 3 million Korean won after the deadline.The court dismissed GDAC's allegations against Park regarding market manipulation and money laundering, noting that GDAC may have failed to maintain a 100% reserve ratio, which contradicts its previous statements. The court also hinted that the losses from the approximately 20 billion Korean won (about 14.48 million USD) hack GDAC suffered last April may not have been fully recovered.It is reported that GDAC terminated services on July 16, preventing Park from withdrawing the remaining WEMIX.

ChainCatcher news, according to News1, the South Korean cryptocurrency exchange GDAC announced that it will terminate its services due to system restructuring, with the service end date set for July 16. From the service end date of July 16, automatic withdrawals will be changed to manual withdrawals, and GDAC will implement a separate withdrawal fee policy for manual withdrawals. Starting from June 24 at 11:00 local time, cryptocurrency trading services on GDAC will no longer be available.Previous news, on April 10, the South Korean cryptocurrency exchange GDAC announced that it was hacked on Sunday, resulting in a loss of nearly $13 million in assets, including nearly 61 bitcoins, 350.5 ethers, 10 million WEMIX, and 220,000 USDT, accounting for 23% of its total custodial assets.

ChainCatcher news, according to monitoring by Shield, addresses related to the Gamma attacker have exchanged 45,000 gDAI for 50,000 DAI.

ChainCatcher news, according to Yangtze Evening News, the police in Qingdao, Shandong Province, have jointly cracked a major underground bank case involving an amount as high as 15.8 billion yuan, which spans 17 provinces and municipalities across the country, and have arrested brokers involved in the illegal buying and selling of virtual currencies.In November 2022, the Qingdao police discovered that the accounts of a person named Jin and others were extremely abnormal, with over a thousand accounts showing an average daily flow of more than 3 million yuan and a total transaction amount exceeding 2 billion yuan. Additionally, large amounts of funds exhibited abnormal characteristics such as high-frequency operations and rapid in-and-out transactions around the clock.Li is an ordinary employee of a textile company in a county-level city, but the fund flow of the third-party bank cards associated with her name and controlled by her reached over 5 billion yuan, which is clearly inconsistent with her identity. Therefore, we conducted an investigation focusing on her trading counterpart and found that Li's other identity was actually a broker specializing in the illegal buying and selling of virtual currencies. Li helped Jin convert a large amount of funds into Tether and other virtual currencies through an overseas virtual currency trading platform. After obtaining conclusive evidence, the case handlers carried out a net-seizing operation. The Qingdao police seized virtual currencies such as Tether and Litecoin worth approximately 2 million yuan on-site. The case has now been transferred to the procuratorate for review and prosecution.

ChainCatcher message, the Hong Kong Securities and Futures Commission today warned the public about suspected fraudulent activities related to virtual assets, with the entities involved operating under the names "Hong Kong Digital Research Institute" or "HongKongDAO" and "BitCuped." The Hong Kong Police Force has taken action to block the websites of HongKongDAO and BitCuped at the request of the Securities and Futures Commission. The Commission has also issued a cease and desist letter to the operators of the relevant websites, demanding that these sites stop providing purchasing services for a certain token issued by HongKongDAO.

ChainCatcher news reports that, according to SlowMist monitoring, the hackers who stole nearly $13 million from the South Korean cryptocurrency exchange GDAC are transferring the funds. The hackers transferred about 60.8 BTC to an address starting with 1AWcB, and subsequently, the address starting with 1AWcB transferred about 36.7 BTC to three addresses. Currently, the address starting with 1AWcB still holds approximately 24 BTC.Earlier reports stated that on April 10, the South Korean cryptocurrency exchange Gdac announced that it was attacked by hackers on Sunday, resulting in a loss of nearly $13 million in assets, including nearly 61 BTC, 350.5 ETH, 10 million WEMIX, and 220,000 USDT, accounting for 23% of its total managed assets. Gdac stated that it has notified the authorities about the hacking incident and is working to recover the funds.

ChainCatcher news, South Korean cryptocurrency exchange Gdac announced that it was hacked on Sunday, resulting in a loss of nearly $13 million in assets, including nearly 61 bitcoins, 350.5 ethers, 10 million WEMIX, and 220,000 USDT, which accounts for 23% of its total managed assets. Gdac stated that it has notified the authorities about the hacking incident and is working to recover the funds. (Source link)

ChainCatcher news, focusing on asset-backed tokens (STO), the decentralized digital asset exchange DigiFT announced the successful completion of a $10.5 million Pre-A round of financing. This round was led by Shengda Group, with participation from HashKey Capital, Hash Global, Xin Enterprise Pte. Ltd., and Beituo Capital.It is reported that DigiFT was founded in 2020 by Zhang Zhihao, the former CEO of Greater China at China Merchants Bank, and former Vice Presidents at Citibank and Standard Chartered Bank in China. Its management team has extensive experience in traditional financial institutions and the fintech sector. DigiFT's vision is to integrate the advantages of centralized and decentralized finance, and it is currently the only decentralized exchange that has entered the Monetary Authority of Singapore (MAS) fintech regulatory sandbox.DigiFT offers compliant decentralized financial solutions on the Ethereum public chain, deploying an automated market maker (AMM) mechanism to facilitate the liquidity of secondary market trading of security tokens backed by financial assets such as bonds and equities. (Source link)