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Malaysian Authorities Bust Illegal Bitcoin Mining Operations

Bitcoin miners who plugged in directly to a distribution board cost a utility company over $760,000 in Malaysia.

13 Arrested for Stealing $3 Million of Electricity to Mine BTC in China

The power authority of Zhenjiang noticed an unusual spike in electricity consumption and abnormal line loss in some factories, and reported them to the local police.

Exploring Illegal Mining Camps in Western China

Although China has shut down bitcoin trading platforms, its attitude toward bitcoin mining is still ambiguous. Now, 70 percent of the world’s bitcoins are produced in China, especially along the Dadu River, where there is plenty of hydropower.

WeChat Plans to Stop Merchants From Transacting in Cryptocurrencies

Recently, WeChat Payment has revised the “WeChat Agreement for Payment Service,” which involves the control and regulation of illegal transactions, including cryptocurrency transactions.

Report Claims That “Sextortionists” Absconded With Over $300,000 in Crypto in 2018

According to a report by research and risk assessment firm Digital Shadows, this scam was committed through a wide array of “sextortion” blackmail strategies, which included the weaponization of emails.

Citing Executive Embezzlement, Korean Crypto Exchange Declares Bankruptcy

The company had reportedly lost $26 million as a result of theft and the subsequent bankruptcy declaration. Coinbin’s CEO Park Chan-kyu claims that the move was “due to a rise in debt following an employee’s embezzlement.”

Noise Complaints May Cause Norwegian Bitcoin Mining Center to Shut Down

Norwegian bitcoin miner Kryptovault is facing a shutdown of its operations due to extensive noise complaints from locals and a lack of proper paperwork.

Study Suggests 25 Percent of Bitcoin Users Are Associated With Illegal Activity

In a newly published paper on the use of bitcoin for illegal activity, researchers from the University of Sydney, the University of Technology Sydney and...

Growing Population in China Views Bitcoin as a Safe Haven, Says BTCChina’s Greg Wolfson

This week, the Chinese yuan has devalued to a four-year low against the U.S. dollar while BTC/CNY exchange rate has risen from 1,633 yuan...

Betting on the Blockchain: Sports Gambling and Bitcoin

Sports gambling in America is big business. It is also, largely, illegal. According to the National Gambling Impact Study Commission, nearly $400 billion is...
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