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Shenzhen Employee Jailed for Crypto Extortion: Landmark Ruling in Chinese Digital Asset Law

Guavy AI Editorial Team
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A Shenzhen tech employee has been sentenced to over three years in prison for stealing company research and development data and demanding ransom in Bitcoin and USDT worth about $87,000. The court's ruling recognized Bitcoin and USDT as virtual assets with property value, despite China's ban on cryptocurrency trading.

This legal recognition allows digital assets to be treated like property in extortion cases, marking a significant precedent in Chinese digital asset law.

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