News Brief: Chinese police arrests crypto miners for $3 million power theft
The Chinese law enforcement forces have reportedly raided and shut down large cryptocurrency mining farm.
The farm was located in the city of Zhènjiāng, Jiangsu Province. During the police operation, it was seized 4,000 facilities for cryptocurrency mining.
According to the reports, the police received a complaint from a local power supplier which detected serious power theft worth $3 million. The criminal group can consist of 20 persons.
This case is said to be the major power theft in the region.
The police have already taken measures against the suspects. However, there is now information about arrests.
Illegal power use for cryptocurrency mining is a common practice in China. For example, a resident of Heilongjiang was arrested charging theft of power from an oil rig located near his place.
15 July, 2019 15:49
← UK to tighten crypto regulation under new economic crime plan
London reportedly plans to take stricter measures to monitor the cryptocurrency market in terms of legal compliance. The UK government has unveiled its fresh economic crime plan for 2019-2022 which now contains measures covering cryptocurrencies.
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