China’s Jiangsu Province Seizes 4000 Bitcoin Mining Machines in Electricity Theft Case

July 17 (ChainDD) According to Xinhua News Agency, Zhenjiang municipal policy of Jiangsu province broke up a major electricity theft case and confiscated nearly 4000 computers used to mine Bitcoin, worth nearly 20 million yuan (around 2.91 million US dollar), and arrested 22 people.

The local police said Zhenjiang Municipal Power Supply Company reported in March that it found users in several counties of the city consumed lots of power and are suspected to steal the power.

After nearly two months of investigation, police found a criminal gang rented nine factories with installed mining equipment. A suspect surnamed Lan confessed his team, the core of the gang, hired dozens of people in Zhejiang and Jiangsu provinces help use theft devices to dodge the power bill. Read More at ChainDD...

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