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The Wenzhou Court in China successfully disposed of the involved virtual currency through a licensed trading platform.
BlockBeats News, August 8th. According to Wenzhou Evening News, starting in December 2022, the defendant Liu used a counterfeit digital wallet app to illegally obtain 544 virtual coin addresses and keys, transferring tens of thousands of virtual coins stolen from victims such as Yang. This resulted in significant financial losses.
To find a reliable professional organization for disposal, Wang Zitai traveled back and forth between various relevant departments for several days, finally getting in touch with the Public Security Department's Third Research Institute through the Lucheng Public Security Sub-bureau, entrusting them to select a mature professional disposal organization. When signing the entrusted agreement, he carefully checked each clause, clearly specifying the rights and responsibilities such as detection, sale, and transfer. Ultimately, with the support of a licensed exchange, the realization process was successfully completed. After completing the relevant procedures and deducting the fees, the realized funds were transferred to a dedicated court account via the Ministry of Public Security's independent account. Over 6000 USDT coins, over 2700 TRX coins, and 0.8 BNB coin were converted into nearly RMB 50,000.
"In the face of the increasing number of internet-based crimes, courts are actively exploring new approaches to virtual currency disposal," said Wang Zitai. "This successful disposal is in line with the spirit of Article 23 of the recent Opinions of the Supreme People's Court on Regulating the Execution of the Property-Related Part of Criminal Judgments," he added, "and it is also inseparable from the collaborative efforts of multiple departments, accumulating experience for cross-domain disposal of new types of assets."
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