IT engineer arrested with 183 Bitcoins, from casino crime to theft charge legal turn

A Shenzhen IT man’s cryptocurrency wallet hidden with 183 Bitcoins has led to an investigation by police across provinces. From initially being charged with “running a casino” to later “theft,” the change in the case’s charges reflects new challenges in the judicial practice regarding virtual assets.

Case Overview: From “Casino” to “Theft”

Li Dong is a post-80s network information security engineer, with a university major in information security, who later worked in multiple internet companies focusing on cybersecurity technology. Around 2016, he began entering the cryptocurrency field, accumulating a certain amount of Bitcoin through stock and coin trading.

However, police investigations changed everything. According to news reports, the timeline of the case is as follows:

The Magnitude of Assets Involved

What truly draws attention in this case is the scale of virtual assets involved.

Seizure details from both police agencies:

• Zhangjiajie police: seized 103 Bitcoins, worth approximately 49.61 million RMB upon liquidation
• Henan police: seized 80 Bitcoins, with a market value exceeding 40 million RMB
• Total: 183 Bitcoins, with a current market value of over 170 million USD, approximately 1.2 billion RMB

Based on the current Bitcoin price (about $92,607 per BTC), these 183 Bitcoins are worth over $1.7 billion, roughly 12 billion RMB.

The Practical Significance of Tracking Virtual Assets

This case demonstrates an important phenomenon: law enforcement’s ability to track and seize virtual currencies is continuously improving. From discovering large amounts of Bitcoin in a digital wallet to successfully liquidating and freezing assets, it shows that authorities have established relatively mature mechanisms for handling digital assets.

Legal Turning Points and Insights

Why did the charges change?

The shift from “running a casino” to “theft” is not surprising. According to reports, Li Dong was ultimately convicted of “theft” and “infringement of citizens’ personal information,” indicating a shift in the focus of the investigation.

This may reflect:

• Insufficient evidence for the initial “running a casino” accusation
• Further investigation uncovered Li Dong’s actual activities involving stealing funds from gambling websites
• As a cybersecurity engineer, he might have used his professional skills to illegally access others’ information

The “Double-Edged Sword” of Technical Talent

Li Dong’s case reveals a phenomenon: individuals with cybersecurity skills, once involved in illegal activities, can cause far more damage than ordinary criminals. His experience in cybersecurity may have given him knowledge of how to bypass security systems and hide traces. But once these abilities are used for unlawful purposes, they become serious criminal tools.

Summary

The key points of this case are threefold:

First, virtual currencies are becoming important vehicles for new types of crime. The 183 Bitcoins represent not only wealth but also a “fund pool” for criminals.

Second, law enforcement’s tracking capabilities are improving. From discovering virtual assets to successfully freezing and liquidating them, it shows that authorities are adapting to the digital economy.

Third, the professional ethics of technical talents deserve vigilance. Mastering specialized skills but using them for illegal purposes often results in prison and confiscation of assets.

The case is still under trial, and the court has stated that a new hearing will be scheduled. The final judgment in this case may provide guidance for similar virtual asset crime cases.