Due to a dispute arising from cryptocurrency transaction leading to unjust enrichment, the court ruled that the plaintiff shall bear the loss.

BlockBeats News, May 23rd, according to Southeast Net, recently, the Ma Wei Court in Fujian, China concluded a unjust enrichment dispute caused by trading virtual currency.

In April 2024, a man named Sui contacted a man named Ye on a certain platform, proposing to purchase virtual currency. After Ye agreed, Sui paid Ye 18,000 yuan through Alipay on the same day. Ye sold to Sui at a price of 7.6 yuan per unit of virtual currency, with a total transaction quantity of 2368.42 units of virtual currency. Subsequently, the two parties had a dispute over the purchase of virtual currency. Sui sued Ye to the Ma Wei Court, demanding the return of the unjust enrichment amount of 18,000 yuan.

Recently, after trial, the Ma Wei Court believed that at the current stage in China, online virtual currency does not have the same legal status as legal tender and cannot and should not be used as currency in the market. Citizens' investment and trading of virtual currency disrupt the country's financial regulatory order, constitute a violation of public order and good customs, and are not protected by law.

In this case, Sui's investment in virtual currency through Ye on the internet platform for financial management does not fall within the scope of civil law regulation and protection in China, and the consequences should be borne by Sui. Sui's request for Ye to return the unjust enrichment amount of 18,000 yuan lacks factual and legal basis and is not supported. In accordance with Article 8 and Article 153 of the Civil Code of the People's Republic of China, the plaintiff Sui's lawsuit was dismissed. The judgment is now in effect.

"Many people are tempted by the so-called 'high returns' of virtual currency, but they overlook the legal risks and security vulnerabilities behind it." The judge reminds the general investors to raise risk awareness, choose legal, compliant, and stable investment channels, and avoid participating in virtual currency transactions, a "dangerous game at the legal red line edge."