Should Theft of Virtual Property be Punishable by Criminal Law?

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

In 2019, a defendant used an EPK virtual currency wallet’s private key without permission, entered a computer system, and stole 208075.96 EPK virtual currencies through transfer orders. The court believes that virtual property theft should be punishable by criminal law regulation. This article explores the topic of whether theft of virtual property should be subject to criminal prosecution.

What is Virtual Property?

Virtual property refers to electronic or digital assets that individuals own or control. These assets may include virtual currencies, virtual real estate, virtual goods, and virtual pets. With the development of blockchain technology, virtual property has become more prevalent.

The Issue of Theft of Virtual Property

The theft of virtual property is becoming more common with an increase in virtual transactions. Protecting virtual property rights is a challenge, and victims of such theft find it hard to claim compensation. The issue of whether theft of virtual property should be punished by criminal law is controversial.

The Legal Framework

In 2018, the Chinese Supreme People’s Court ruled in favour of virtual property protection. The court stated that virtual property is legally protected as personal property in China. However, in some regions, virtual property is not legally classified as personal property, and the theft of virtual property is not recognized as a criminal offense.

Criminal Law Regulation

The law needs to keep up with technological advances. As with traditional property, if someone steals virtual property, they should be held accountable under criminal law. The punishment should be severe enough to deter theft.
In the 2019 case mentioned earlier, the defendant used another person’s private key to transfer virtual currencies without authorization. The act was similar to using another person’s identity or bank card to withdraw money from a bank account without permission. Therefore, theft of virtual property should be treated similarly to traditional property theft.

The Punishment for Theft of Virtual Property

In general, criminal law punishment for virtual property offenses should be subjected to the same penalty as the theft of physical assets. Punishment should include imprisonment, probation, or fines.

Conclusion

The theft of virtual property is a growing issue that must be addressed to protect the rights of virtual property owners. Virtual property should be protected under the law, and it should be subject to criminal prosecution. The punishment should be stringent enough to act as a deterrent.

FAQs

Q1. What should be considered when punishing theft of virtual property?
A1. The punishment must be severe enough to deter theft and should be similar to the punishment for theft of physical assets.
Q2. How is virtual property legally protected in China?
A2. Virtual property is legally protected as personal property in China.
Q3. What is virtual property?
A3. Virtual property refers to electronic or digital assets that individuals own or control.