BTC Mining Operations Secretly Performed in ChinaAnnabella Cornelly
The Chinese mass media sources have revealed another criminal incident that occurred in China. According to the local police officers, the authorities have managed to find BTC mining operations which unknown individuals performed in tombs they suspect the criminals use for these purposes.
Law enforcement and official representatives were surprised to discover an illegal operation related to BTC mining. The event involved numerous burial sites. All of them were underground and who they belonged to is not yet clear. It took the officials quite some time to find out the details of the operations.
The representatives keep in touch with the press and broadcast companies trying to inform the public about their findings. The crime committed in the cryptocurrency community affects the market’s reputation and won’t let traders do their business – many people do not feel safe and secure enough knowing that there’re third parties that are playing an unfair game.
Many journalists developed a great interest in the incident and the news reached the local TV channels. What happened was soon known to people across the country and currently, the police are investigating the illicit operation in Daqing, which is a Chinese city located in the northern part of the country.
To be more precise, the mining area that the authorities discovered was located in a distant territory. The criminals used two burial mounds while the site is based outside the city and surrounded by fields.
The side where the police found the BTC mining hardware. Taken from Beijing News
Stealing Power to Promote BTC Mining
The issues involve several nuances and one of them is the huge amounts of electricity supply that the criminals employed. The official representatives investigated the site. This action was necessary because one of the local companies complained about power losses they experienced yet found no reasonable explanation. The police found a path in the surrounding areas. Diggers also discovered the mining equipment that was using stolen power.
Local journalists announced that a few days ago the police officers found about fifty-four BTC mining rigs. Those were hidden under kennels. The described event occurred in the same province.
Dog kennels that the criminals used to hide their illicit activities. Taken from GNW
The Country’s Authorities Will Restrict Operations
China is a huge country and the authorities take various measures to prevent and stop criminal activities. The same rule applies to illicit activities related to the cryptocurrency market. The fact is that cryptocurrency prices keep changing all the time and right now the majority of people dealing with the crypto industry know that crypto prices are steadily increasing. The higher the price, the more participants we see.
This is quite natural and normal that the crypto market should attract thousands of new customers. The opportunities that the community opens make traders feel attracted to mining and they become more involved in this type of business.
The worst part is that the number of criminal events in this sphere is also increasing since scammers and fraudsters will always stay alert and active while looking for new ways to gain profit through illegal actions.
The media sources report that the country’s government is likely to crack down on operations that cryptocurrency mining requires. One of the measures they have recently introduced was a restrictive law that obliges local companies to stop their cryptocurrency mining operations. Analysts claim that Sichuan, the Chinese province, accounts for approximately ten percent of the global BTC hashrate.
Interview with Gen2 on The Capital07 Oct, 2020 Colin Baseman
TOP 10 crypto world news for October 2, 202002 Oct, 2020 Annabella Cornelly
TOP 9 crypto world news for October 1, 202001 Oct, 2020 David Kemp
TOP 10 crypto world news for September 30, 202030 Sep, 2020 Judy Rubio
TOP 9 crypto world news for September 29, 202029 Sep, 2020 Endy Callahan
TOP 10 crypto world news for September 28, 202028 Sep, 2020 Colin Baseman