sentenced

According to the "Procuratorial Daily," Lin, Zeng, and Dai conspired to use virtual currency trading as a pretext. During the trading process, they secretly filmed the victim's digital wallet private key and, after the virtual currency was credited, secretly logged into the victim's wallet to reverse the transaction, transferring the related virtual currency back to their controlled accounts. The three committed the crime three times, causing the victim a total economic loss of 660,000 yuan.The first-instance court held that in the absence of a clear judicial interpretation regarding the valuation method of virtual currency and sentencing standards, it was inappropriate to directly determine the amount involved as particularly huge based on the victim's purchase amount of 660,000 yuan. Therefore, they sentenced the three based on "other serious circumstances," imposing prison terms ranging from eight years to five years and six months, along with fines. The Hanyang District Procuratorate of Wuhan City in Hubei Province subsequently filed an appeal, which was supported by the Wuhan City Procuratorate.The prosecution argued that the first-instance court applied the law incorrectly and imposed an excessively light sentence. Prosecutor Dai Wentao of the Wuhan City Procuratorate stated that in the case where the victim had a clear loss amount to refer to, it was contradictory and legally erroneous to claim that the value of virtual currency could not be determined. In judicial practice, using the resale price and transaction price as the basis for determining the amount of theft has become mainstream, and determining the value of virtual currency based on the actual cost paid by the victim has factual, legal, and practical basis.The Intermediate Court of Wuhan accepted the prosecution's opinion in the second instance, revoked the corresponding content of the original judgment, and changed the determination of the theft amount to particularly huge. It sentenced the principal offender Lin to ten years and six months in prison for theft, and sentenced the accomplices Zeng and Dai to eight years in prison each, along with fines.

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.

The court in Qujiang District, Quzhou City, Zhejiang Province, China recently ruled on a hacker case that used government and enterprise websites as a platform for pornography. The defendant, Zhou, illegally controlled over 150 servers (involving 157 government and enterprise units and well-known apps) through website vulnerabilities, batch-injecting malicious files, forcing redirection to overseas pornographic websites, and selling control permissions for profit. To evade tracking, Zhou rented a house and opened accounts using the identities of friends and relatives, arranged for accomplices to operate

The Fuzhou City Cangshan District People's Procuratorate disclosed that a man was sentenced to 12 years and 7 months in prison for theft after stealing 4 Bitcoins from others and illegally profiting about 900,000 yuan, with a fine of 300,000 yuan. The second instance upheld the original verdict.The case shows that at the end of 2020, Wang entrusted Lin to assist in cashing out the Bitcoins he held. During the process of accessing Wang's Bitcoin wallet hard drive and computer, Lin stole the wallet's "private key" and related data, transferring 4 Bitcoins into his own name, and subsequently sold them for profit. In 2024, after Wang discovered abnormal asset activity, he reported it to the police, and Lin was subsequently arrested.The procuratorial authority stated that although current regulations clearly indicate that virtual currencies do not have the status of legal tender, Bitcoins possess value, manageability, and transferability, meeting the general characteristics of "property" in criminal law, and are subject to property crime. Relevant infringement actions will also be held criminally accountable.

The British police announced that five people have been sentenced in a "Wrench Attack" case targeting cryptocurrency holders. The suspects met the victims at a bar in Shoreditch, London, in July 2025, forcibly took them back to their homes, and through violent threats and facial recognition verification, coerced them into accessing their bank and cryptocurrency accounts, stealing over £10,000 in cash, cryptocurrency, and other valuables such as watches.During the investigation, the cryptocurrency exchange platform Coinbase reported to the police after discovering unusual activity in the victims' accounts. The police subsequently identified and arrested the individuals involved. The court ultimately sentenced four main offenders to prison terms ranging from 3.5 to 6.5 years, while another individual involved was sentenced to community service for money laundering. The police stated that this case has caused long-term psychological trauma to the victims and their families, highlighting the rising risk of offline violent crimes against cryptocurrency asset holders.

According to The Block, the U.S. Department of Justice sentenced Ohio resident Rathnakishore Giri to nine years in prison for operating a long-running investment fraud scheme that defrauded investors of at least $10 million. Giri pleaded guilty in 2024 to a charge of telecommunications fraud. In a revised plea agreement submitted before the sentencing hearing, Giri admitted to continuing to solicit funds from investors even after pleading guilty.The Department of Justice stated that Giri falsely promised high returns and guaranteed the principal was risk-free, while in reality, he used funds from new investors to pay old investors, which is a typical Ponzi scheme. The Commodity Futures Trading Commission previously accused Giri of operating Bitcoin derivatives schemes through multiple entities since 2019 and initiated enforcement action in August 2022, with the Department of Justice filing five counts of telecommunications fraud against him in November 2022.

According to Bits.media, the Presnensky District Court in Moscow sentenced the former head of Binance Russia and co-founder of the Blum crypto platform, Vladimir Smerkis, to five years in prison. The court found him guilty of "large-scale fraud" as stipulated in Article 159, Part 4 of the Criminal Code of the Russian Federation.According to the prosecution, in June 2024, trader and crypto blogger Oleg Polunin requested Smerkis's help to drive traffic to his social media. Smerkis promised to bring in about 2 million new users but failed to fulfill his obligations after receiving over 8.8 million rubles, misappropriating the funds for personal use. The verdict has not yet taken effect and can be appealed.Smerkis was arrested a year ago. He served as the regional head of Binance from early 2022 until September 2023, and later announced the launch of the clicker game Blum with another former Binance regional manager; on the day of his arrest, the Blum team announced his departure.

Former Singapore Navy personnel Zhang Rongxuan (35 years old, phonetic) was sentenced to six years and ten months in prison after stealing 1.7 million Tether (nearly 2.3 million Singapore dollars) from a friend's cold wallet, which he spent on luxury watches, gambling, and paying off a mortgage.It is reported that Zhang Rongxuan was a member of the Naval Diving Unit at the time of the incident, holding the rank of captain. After getting to know the victim, he also co-managed a non-fungible token trading platform with friends, which is affiliated with Upstairs Research Pte Ltd and owned by DiGi Selection Holdings Pte Ltd. After security companies tracked the cryptocurrency wallet, Zhang Rongxuan admitted that he committed the crime due to suffering significant losses from the collapse of the FTX exchange.

The People's Court of Haidian District, Beijing, disclosed a case involving virtual currency "box opening." The defendant illegally obtained citizens' personal information through encrypted communication tools and other channels, unlawfully acquiring over 900 million pieces of information data, building a "social engineering database" website storing over 170 million pieces of citizens' personal information, and profiting by selling it in exchange for virtual currency. Additionally, they used encrypted communication tools to establish a "box opening hang person" group to publish illegal information that infringes on privacy.The court sentenced the principal offender, Lin, to 7 years in prison for the crime of infringing on citizens' personal information and the crime of illegally using information networks, and imposed a fine of 70,000 yuan.

According to Forbes, a U.S. court sentenced Robert Dunlap, the operator of the cryptocurrency scam Meta-1 Coin, to 23 years in prison. He was accused of defrauding approximately 1,000 investors through a fraudulent cryptocurrency investment project from 2018 to 2023, with the amount involved exceeding $20 million.According to the U.S. Department of Justice, Dunlap claimed that the "Meta-1 Coin" he issued was backed by $44 billion in gold reserves and $1 billion worth of artworks by Picasso, Dali, Van Gogh, etc., and promised a maximum return rate of 224,923%, while providing investors with forged audit documents and insurance materials.Investigations revealed that the so-called gold and art assets did not exist, and the "Meta Exchange" website he built used automated trading bots to create the illusion of profits. The related tokens were never actually issued on-chain. Investor funds were subsequently used to purchase luxury items, including Ferraris.It is worth noting that the U.S. Securities and Exchange Commission had already filed a civil fraud lawsuit against Dunlap in 2020, but he continued to operate the project until he was criminally charged in 2024. The FBI stated that the case "destroyed the wealth and trust accumulated by many victims over the years."

According to the Los Angeles Times, 22-year-old Evan Tangeman from Newport Beach was sentenced to 70 months in federal prison for money laundering for a young fraud gang.Tangeman admitted that the gang laundered at least $3.5 million, which was obtained by stealing over $263 million in cryptocurrency from investors through social engineering tactics such as impersonating employees of cryptocurrency trading platforms. Tangeman's compensation included luxury sports cars like Lamborghinis and Porsches. Federal agents seized a black 2022 Rolls-Royce Ghost (worth over $300,000) and a Porsche GT3 RS from his home.The gang is referred to as the "crypto kids," consisting of teenagers who used the stolen funds to rent luxury mansions and private jets, purchase luxury goods, and spend up to $500,000 in a single night at nightclubs. Tangeman also instructed others to destroy digital devices after gang members were arrested.

French national Maximilien de Hoop Cartier was sentenced to 8 years in prison by the U.S. District Court for the Southern District of New York for operating an unlicensed over-the-counter (OTC) cryptocurrency exchange, assisting in the transfer of over $470 million in drug trafficking and other criminal proceeds through the U.S. financial system to Colombia and other locations, and was ordered to forfeit approximately $2.362 million in commissions and related shell company accounts.Since 2018, Cartier converted cryptocurrency into fiat currency through more than a dozen U.S. shell companies, falsely claiming to banks that he was engaged in software development and forging contracts and invoices to cover the source of funds. After law enforcement agencies seized his accounts in 2021, he still submitted forged documents, resulting in some funds being returned. In October 2025, Cartier pleaded guilty to two charges of operating an unlicensed remittance business and conspiracy to commit bank fraud.

According to The Block, a U.S. court sentenced a woman from Saipan to 71 months in prison for her involvement in a Bitcoin-related fraud scheme that affected multiple elderly victims.The report stated that the defendant induced the victims to invest in Bitcoin under false pretenses by establishing a trusting relationship with them. The case was identified as a fraud scheme targeting multiple individuals.

According to the Korea Herald, two active-duty sergeants in their 30s from the South Korean Army Special Warfare Command were sentenced to two years in prison by the Changwon District Court on April 26 for illegally operating an unreported virtual asset exchange during their service and assisting in money laundering for drug transactions, and were fined 54.69 million won.Investigations revealed that the defendants operated an illegal trading platform through Telegram from 2023 to 2024, assisting buyers in converting approximately 54.69 million won in drug payments into virtual currency and transferring it to sellers on 90 occasions.

According to Cointelegraph, 22-year-old resident Evan Tangeman from California was sentenced to 70 months in prison on Friday for participating in a crime that involved stealing approximately $263 million in cryptocurrency from victims through social engineering scams and burglary.According to a statement from the U.S. Department of Justice (DOJ), Tangeman pleaded guilty to related charges in December 2025 and admitted to assisting members of the criminal organization in laundering at least $3.5 million in illegal funds. The DOJ stated that in addition to imprisonment, he was also sentenced to three years of supervised release.

According to the U.S. Department of Justice, 22-year-old Evan Tangeman from Newport Beach, California, was sentenced to 70 months in prison and 3 years of supervised release by a federal court in Washington, D.C. for his involvement in an interstate social engineering crime group that assisted in laundering at least $3.5 million.The crime group has been operating since October 2023, stealing over $263 million in cryptocurrency through hacking, social engineering, and other means. Most members are unemployed youths, either minors or under 20 years old, originating from online gaming platforms. Tangeman was responsible for converting the stolen cryptocurrency into fiat currency and leasing luxury homes for group members in places like Los Angeles and Miami, and he also received luxury cars such as Bentleys and Lamborghinis as payment. After the incident, Tangeman instructed his accomplices to destroy digital devices to eliminate evidence. The case is being jointly investigated by the FBI's Washington, Los Angeles, and Miami field offices along with the IRS Criminal Investigation Division, and so far, 9 individuals involved have pleaded guilty.

According to South Korean media Newsis, a company finance employee in their 20s was sentenced to 3 years in prison by the Busan District Court for embezzling funds for cryptocurrency investments.The court found that between 2021 and 2025, they transferred company funds to personal accounts approximately 680 times, embezzling a total of about 570 million won, and used the related funds for trading cryptocurrencies, overseas travel, and living expenses; they also forged company deposit trust balance certificates to cover up the crime.

The U.S. Department of Justice revealed that Carmine Agnello, the grandson of mob boss John Gotti, was sentenced to 15 months in prison for fraudulently obtaining approximately $1.1 million in COVID relief funds and investing part of the money into cryptocurrency ventures.Prosecutors stated that from April 2020 to November 2021, Agnello obtained multiple relief loans from the U.S. Small Business Administration (SBA) through false declarations, falsely claiming they were for the operation of his auto parts and recycling business, while actually diverting the funds for personal use, including approximately $420,000 invested in cryptocurrency-related investments. The U.S. Attorney's Office for the Eastern District of New York indicated that this conduct occurred during the peak of the pandemic, representing a serious abuse of government aid funds. Agnello is expected to report to prison on July 1. Additionally, official data shows that fraud related to U.S. pandemic relief funds is severe, with the Government Accountability Office (GAO) estimating that about $135 billion (approximately 15% of the total) has flowed into fraudulent activities.

Texas man Robert Dunlap was sentenced to 23 years in federal prison for his involvement in a cryptocurrency scam exceeding $20 million and was ordered to pay restitution to nearly 1,000 victims.Prosecutors stated that Dunlap operated a cryptocurrency project and sold Meta - 1 Coin, falsely claiming that the token was backed by $44 billion in gold and approximately $1 billion in artwork, including works by Pablo Picasso, Vincent van Gogh, and Salvador Dalí, and that the assets had been audited. A jury had found him guilty of mail fraud last year.

According to the U.S. Department of Justice, Robert Dunlap, a man from Texas, was sentenced to 23 years in prison by Federal Judge LaShonda A. Hunt for orchestrating a cryptocurrency scam that defrauded nearly 1,000 investors of over $20 million.Between 2018 and 2023, Dunlap claimed to operate a cryptocurrency business and sold a fraudulent digital asset called "Meta-1 Coin" through the "Meta-1 Coin Trust." He spread multiple false statements to potential and actual investors, claiming that the token was backed by artwork valued at up to $1 billion and $44 billion in gold, and falsely stated that an accounting firm had audited the gold and certified its value. The so-called art collection allegedly included works by renowned artists such as Picasso, Dali, and Van Gogh. To cover up the fact that he did not actually hold the aforementioned gold or artwork, Dunlap forged a batch of legal documents.