March 28, 2024

Chinese court pronounces Ethereum legal property

Chinese court pronounces Ethereum legal property

Recently, in the city of Shenzhen, a verdict was passed in the case of the theft of Ethereum, accordingly, the cryptoasset was recognized as legala property that has “economic value”. As is known to the citizens of China, it is forbidden to own it or to transfer it.

Accused Lee Took over Blockchain Engineerin the company of Xinjia in Shenzhen in March 2019. In April 2019, he participated in the project under the name of Haode Star, developed by the company Xinjia and the affected company Haode Trade Co., Ltd. The specialist managed to secure a private key and a payment password for the Haode Star project.

May 1, the same year Lee stopped working incompanies, so how did not pass the test period due to lack of competence. Remaining not satisfied with this situation, on June 20, 2019, he used the payment password of the Haode Star project in order to enter the account on the online payment platform. Then he stole 3 ETH and 4 million coins Haode, on July 15, same year Lee again stole 0.4 ETH, which transferred his account to OKEx and imToken.

According to the records of the transactions provided by the eligible, the total cost of the eligible ETH is more than 6,000 Chinese yuan.

Defendant Lee was tried for seven months in prison and fined 2000 Chinese yuans. They also ordered Haode Trade Co Ltd 55Z6.99 Chinese yuan to return.

When defining a specific sum of ships, the price of some small platforms was also fixed, and I also took into account the loss of money.

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