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Shandong High Law: Stealing virtual property is recognized as the crime of illegally obtaining computer information system data

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In 192, the defendant illegally used the private key of someone else\’s EPK virtual currency wallet, invaded the computer system, and stole a total of 208075.96 EPK virtual currenci

Shandong High Law: Stealing virtual property is recognized as the crime of illegally obtaining computer information system data

In 192, the defendant illegally used the private key of someone else’s EPK virtual currency wallet, invaded the computer system, and stole a total of 208075.96 EPK virtual currencies through transfer orders. The court believes that for the theft of virtual property, if it truly requires criminal law regulation, it can be convicted and punished according to the crime of illegally obtaining computer information system data, and the punishment can be the same as the crime.

Shandong High Law: Stealing virtual property is recognized as the crime of illegally obtaining computer information system data

I. Introduction
– Explanation of the case
– Importance of virtual currency theft
II. The legal aspect of virtual currency theft
– Difficulties in prosecuting virtual currency theft
– Crime of illegally obtaining computer information system data
– Punishment for illegally obtaining computer information system data
III. The need for stricter laws on virtual currency theft
– Increase in virtual currency theft
– The lack of proper regulations in the virtual currency market
– The need for harsher penalties for virtual currency theft
IV. Measures to prevent virtual currency theft
– Encryption and password protection
– Multi-factor authentication
– Avoiding phishing scams
V. Conclusion
– The significance of virtual currency theft
– The need for stricter laws and preventative measures

The Impact of Virtual Currency Theft: Understanding the Legal and Preventative Measures

In 2019, a defendant was convicted of stealing over 200,000 EPK virtual currencies through the illegal use of someone else’s private key. The court’s ruling stated that virtual property theft can fall under the ordinance of illegally obtaining computer information system data, thereby carrying the same punishment as the crime. This case highlights the significant impact virtual currency theft has on the market and the need for stricter laws and preventative measures.

The Legal Aspect

Virtual currency theft poses challenges for law enforcement officials because of the difficulty in tracing and identifying the offender. Furthermore, the virtual currency market is largely unregulated, making it easier for perpetrators to go unpunished. In this case, however, the court recognized virtual property theft as a punishable offense.
The crime of illegally obtaining computer information system data includes unauthorized access to computer systems, which can be considered as theft of virtual property. Penalties for this crime can range from fines to imprisonment.

The Need for Stricter Laws

Virtual currency theft has increased significantly in recent years, which has highlighted the lack of proper regulation in the virtual currency market. Without appropriate laws and regulations in place, it becomes easier for offenders to steal and get away with it. Harsher penalties need to be enforced to deter potential criminals from attempting to steal virtual currency.

Preventative Measures

Encryption and password protection can secure virtual wallets, as it requires a private key to access. Multi-factor authentication can provide an additional layer of security. Phishing scams are also a prevalent threat, which can be avoided by verifying website URLs and email addresses before sharing private information.

Conclusion

The theft of virtual currency deserves the same level of punishment as traditional property theft. The lack of proper regulations in the virtual currency market and the difficulty in prosecuting offenders makes it imperative for harsher penalties to be enforced. Prevention measures such as encryption, multi-factor authentication, and avoiding phishing scams can reduce the risk of virtual currency theft.

FAQs

Q1. Can virtual currency theft be considered a criminal offense?
A1. Yes, virtual currency theft can be considered a punishable offense under the crime of illegally obtaining computer information system data.
Q2. How can virtual wallets be secured from theft?
A2. Virtual wallets can be secured by using encryption and password protection, and enabling multi-factor authentication.
Q3. What are the preventative measures against phishing scams?
A3. Verifying website URLs and email addresses before sharing private information can help avoid phishing scams.

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