“There is no such thing as standing in the spotlight without attracting the wind.” This old saying once again proves true.
A Shenzhen man, Li Dong, who reportedly held hundreds of bitcoins, became the target of law enforcement agencies in Henan and Hunan provinces. Under the charge of “operating an illegal casino,” police from two separate regions seized more than 100 BTC, worth tens of millions of yuan.
According to case records, public security bureaus in Zhangjiajie (Hunan) and Changge (Henan) both investigated Li Dong for allegedly operating a casino.
Zhangjiajie police confiscated over 100 BTC, valued at more than 40 million yuan at the time.
Henan authorities seized an additional 80 BTC, also worth over 40 million yuan based on market prices then.
In total, more than 180 bitcoins with a combined value exceeding 80 million yuan were seized, all tied to the same individual and the same batch of digital assets.
However, the case took a dramatic turn.
Li Dong was ultimately not convicted of operating a casino. Instead, the Changge City People’s Procuratorate filed charges against him for suspected theft and infringement of citizens’ personal information. In January 2026, the People’s Court of Changge City held the first public hearing. Following the trial, the court announced that the case would be heard again at a later date.
The Bigger Message
The same person, the same bitcoins, and two different jurisdictions yet no final conviction for the original charge that justified the massive seizure.
For crypto holders, the message is clear:
In certain jurisdictions, visibility itself can become a risk. Whether justified or not, large on-chain wealth can attract scrutiny, enforcement actions, and prolonged legal uncertainty.
Sometimes, holding Bitcoin isn’t just about security it’s about keeping a low profile.
