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According to China News Weekly, the People's Court of Honggang District in Daqing City, Heilongjiang Province recently announced a first-instance judgment. Two men were sentenced for stealing electricity from high-voltage lines in an oil field for Bitcoin mining. The principal offender, Zhang, was sentenced to 10 years in prison and fined 50,000 yuan, while the accomplice, Zhao, was sentenced to 4 years and 10 months in prison and fined 20,000 yuan.According to the judgment, in September 2024, Zhang illegally connected to the high-voltage line of an oil field in Daqing and set up 24 Bitcoin mining machines in an abandoned pigsty he rented. In December of the same year, Zhao joined in knowing that Zhang was stealing electricity and purchased an additional 12 mining machines, bringing the total to 36 machines running. In August 2025, the two were arrested by the public security authorities.It was calculated that Zhang stole 565,375.2 kilowatt-hours of electricity, valued at 438,580.52 yuan; Zhao stole 468,060 kilowatt-hours, valued at 363,750.78 yuan. The court determined that both men committed theft, with Zhang as the principal offender and Zhao as the accomplice. The court also ordered Zhang to repay 438,580.52 yuan, and Zhao to bear joint repayment responsibility for 363,750.78 yuan. The mining machines and related equipment involved in the case will be handled by the public security authorities in accordance with the law.

The People's Court of Honggang District, Daqing City, Heilongjiang Province recently announced a first-instance judgment. Two men were sentenced for stealing electricity from high-voltage lines in an oil field to mine Bitcoin. The main offender, Zhang, was sentenced to 10 years in prison and fined 50,000 yuan, while the accomplice, Zhao, was sentenced to 4 years and 10 months in prison and fined 20,000 yuan.According to the judgment, Zhang illegally connected to the high-voltage line of an oil field from a certain oil extraction plant in Daqing and set up 24 Bitcoin mining machines in an abandoned pigsty he rented. In December of the same year, Zhao joined in knowing that Zhang was stealing electricity and purchased an additional 12 mining machines, bringing the total to 36 machines running. In August 2025, the two were arrested by the public security authorities. It was calculated that Zhang stole 565,375.2 kilowatt-hours of electricity, valued at 438,580.52 yuan; Zhao stole 468,060 kilowatt-hours, valued at 363,750.78 yuan. The court found both men guilty of theft, with Zhang being the principal offender and Zhao the accomplice. The court also ordered Zhang to compensate 438,580.52 yuan, while Zhao was jointly liable for 363,750.78 yuan of that amount. The mining machines and related equipment involved in the case will be handled by the public security authorities in accordance with the law.

According to Yonhap News Agency, the first case of violation of the "Virtual Asset User Protection Act" in South Korea has been sentenced. The Seoul Southern District Court sentenced the CEO of a cryptocurrency trading company to 3 years in prison for manipulating coin prices, along with a fine of 500 million won (approximately 385,000 USD) and the recovery of about 846 million won (approximately 650,000 USD). However, considering Mr. Lee's active cooperation during the trial and his prior detention, the court decided not to revoke his bail and did not detain him.The court found that between July and October 2024, he used an automated trading program to inflate trading volume and repeatedly placed false buy orders to manipulate prices, with improper gains amounting to about 7.1 billion won (approximately 5.46 million USD). This case is the first to be transferred by the prosecution through the financial regulatory "fast track" since the law took effect in July 2024.

Dragonfly managing partner Haseeb Qureshi recently published a post regarding the viewpoint that "the market crash on 10/11 was triggered by Binance and Ethena." He stated that this narrative is difficult to establish in terms of timeline, market dissemination path, and evidence. He pointed out that the price of Bitcoin had already bottomed out about 30 minutes before the anomaly in USDe appeared on Binance, indicating that the causal relationship is clearly inverted. Additionally, the deviation in USDe price only occurred on Binance and did not spread to other trading platforms, which cannot explain the large-scale liquidation across the entire market and is fundamentally different from events like Terra that caused global balance sheet shocks.Haseeb believes that a more reasonable explanation is the combination of multiple factors: Trump's tariff comments disturbed the market on Friday evening, the Binance API anomaly prevented market makers from hedging across platforms, liquidation and the ADL mechanism amplified volatility, and the lack of traditional financial-style circuit breakers and self-stabilizing mechanisms in the crypto market ultimately caused the market to evolve along an unfavorable path. He emphasized that there is no simple and conspiratorial "single culprit" for 10/11; although the market suffered a heavy blow, it has not been permanently damaged in the long run and only needs time to restore liquidity and confidence.

According to Decrypt, the main culprit in the laundering case involving 60,000 BTC, Qian Zhimin, was sentenced to 11 years and 8 months in prison on Tuesday at the Royal Court of Southwark in the UK. Qian Zhimin has also used the name "Zhang Yadi."In September, she admitted to fraud and money laundering charges related to her company, Lantian Ge Rui. The company promised to bring wealth through high-tech health products and cryptocurrency mining projects. Also on trial with her was her Malaysian accomplice, Seng Hok Ling, who was sentenced to 4 years and 11 months in prison for acting as her intermediary and financial agent in the case.

According to ChainCatcher news, the Shanghai First Intermediate People's Court (Shanghai No. 1 Intermediate Court) disclosed on its official account that the court recently concluded a second-instance criminal case involving digital collectibles. The defendants, including Wang, issued digital collectibles generated by AI through a third-party blockchain company for "on-chain" distribution, using fraudulent methods to illegally raise funds, with a huge amount involved. As a result, the court sentenced defendant Wang to eight years and six months in prison and imposed a fine of 550,000 yuan for the crime of fundraising fraud.The presiding judge of the second-instance case, Gu Pingzhou, pointed out that most of the digital collectible transfer platforms currently available in the market are spontaneously formed by users or are trading venues illegally organized by certain small and medium-sized platforms. For platform operators, before engaging in any business activities, they should verify their admission qualifications with relevant regulatory authorities and industry associations and legally obtain business licenses.

ChainCatcher news, according to Jin10 data reports, the People's Bank of China will keep the one-year and five-year Loan Prime Rate (LPR) unchanged at 3% and 3.5%, respectively.

ChainCatcher news, according to @ai_9684xtpa's monitoring, three events are the main reasons for the sharp decline of B token. Adam's liquidation set the tone for the drop, smart money selling caused a temporary price drop, and media spread further caused panic, resulting in "B's 24-hour drop reaching 40%".First, venture capital firm CEHV partner Adam Cochran spent a total of $2.89 million to purchase 10.2 million B tokens within 13 hours after announcing the acquisition on WLFI, with an average cost of $0.2833. However, starting from yesterday morning, he sold in three batches, with an average selling price of $0.2485, resulting in a total loss of about $355,000, and the token price dropped from the initial selling price of $0.2664 to $0.2255, a decline of 15%. Second, the smart money starting with "0x26a" was mistakenly reported as having acquired 3.32 million B tokens at a cost of $0.08492 one hour after purchasing on WLFI, but liquidated between 19:02 and 19:12 yesterday, with an average selling price of $0.1838, making a profit of about $328,000, and causing the token price to temporarily drop by 12.11% (from $0.2129 to $0.1871). Finally, the media reported the smart money dumping incident at 19:05:40, leading to a further drop in the token price to a low of $0.1461 at 19:07:15.

ChainCatcher news, according to Jinshi reports, the People's Bank of China has lowered the one-year and five-year Loan Prime Rate (LPR) from 3.1% and 3.6% to 3% and 3.5%, respectively.

ChainCatcher news, according to Jinshi reports, the People's Bank of China will keep the one-year and five-year Loan Prime Rates (LPR) unchanged at 3.1% and 3.6%, respectively.

ChainCatcher news, the Office of the Financial Committee of the Hunan Provincial Committee, the Financial Work Committee of the Hunan Provincial Committee, and the Hunan Provincial Local Financial Supervision Administration's official WeChat account disclosed a GBC platform fundraising fraud case. Zhou, Tong, Wu, and others commissioned Chengdu Xingyi Network Technology Co., Ltd. to design the GBC platform software for computer clients and mobile apps. Wu falsely claimed that GBC coins and wealth coins were blockchain virtual currencies, developing downlines in areas such as Jinshui District, Zhengzhou City. By the time the case was reported, the "GBC" platform had developed 47 levels of members, involving 59,548 member accounts, with a total fund flow of 3.408 billion yuan, of which 40,480 member accounts suffered losses totaling 629 million yuan. The main criminal gained over 226 million yuan through fundraising fraud on the GBC platform.Upon investigation, the GBC platform system generated digital symbols out of thin air, which had no economic value. The Zhengzhou Intermediate People's Court, after hearing the case, determined that based on the facts of the crime, its nature, circumstances, and the degree of harm to society, the involved individuals were sentenced to fixed-term imprisonment ranging from fifteen to thirteen years.

According to ChainCatcher news and the Guangzhou Daily, Guangdong courts recently concluded a virtual currency fraud case. The defendant, Xie, established Company A and issued a virtual currency named "AA Chain," promising investors that the currency would be listed on exchanges and yield high returns.The case shows that in May 2018, Xie established Company A in Guangdong and served as its legal representative. He promoted "AA Coin" on internet platforms as having appreciation potential and promised victims that it would be listed for trading on exchanges, with expected returns of no less than 5 million yuan. One investor thus invested 990,000 yuan to purchase over 1.6 million AA Coins, but these tokens remained locked and could not be traded.The court found that the defendant, Xie, aimed to illegally possess others' property by fabricating facts to defraud them, with the amount being particularly large. He was ultimately sentenced to 11 years in prison for fraud and fined 50,000 yuan. The judgment has taken effect.

ChainCatcher news, according to Bitcoin.com, Notional Labs CEO Jacob Gadikian recently stated that the Terra crash and UST de-pegging were not triggered by founder Do Kwon, but rather stemmed from an anonymous attack.Gadikian stated that the attackers compromised the Terra blockchain, attempting to disrupt UST's $1 peg and profiting through arbitrage. Gadikian also pointed out that during the attack, hundreds of millions of validators were manipulated.Other investigators also agree with Gadikian's viewpoint, noting that during the de-pegging, the chain's transaction volume increased sixfold, thanks to bots. The attack was orchestrated by several addresses, conducting over 70,000 transactions, all of which failed. This led to network congestion, as validators could only keep 5,000 transactions in their memory pool.Although Do Kwon has been extradited to the U.S. for fraud, Gadikian believes that the mastermind behind the attack has yet to be revealed.

ChainCatcher news, according to a report by The Paper, the People's Court of Wenchang City, Hainan Province, recently concluded a case involving the trading of personal information using cryptocurrency. The court's investigation revealed that the defendant, Han, purchased over 82.24 million pieces of personal information for 500 yuan via QQ in 2021, which included 7.27 million photos of ID cards, 30.69 million vehicle owner information, and 1.07 million bank user information.In March 2023, Han sold this information through platforms such as QQ, WeChat, and Telegram, and collaborated with courier Wu to obtain express delivery transaction information, pricing each piece at 1.5 yuan in USDT. He made a profit of 770 yuan by exchanging through the Ouyi platform. The court sentenced Han to one year and eight months in prison for infringing on citizens' personal information and imposed a fine of 3,000 yuan. Co-defendant Wu was sentenced to eight months in prison with a one-year and four-month probation and fined 2,000 yuan.

ChainCatcher news, seven top operators of the virtual currency exchange V Global have been prosecuted for fraud amounting to 2 trillion won (approximately 1.4 billion USD) and were sentenced to imprisonment by the appellate court.On August 22, the Suwon High Court overturned the first instance's 8-year sentence. Yang and others were accused of defrauding approximately 2.2 trillion won from about 52,000 members through false promises. The remaining six operators maintained the first instance's ruling, receiving sentences of 3 years in prison with a 5-year probation. Yang and the other two were taken into custody immediately.