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Investigators in China say they will “punish” operators for a covert cryptocurrency mining operation, which was discovered after a raid on an industrial park.
According to local media reports, the bust in Dongguan City was carried out by several agencies, including the Tangxia Public Security Bureau, the Market Surveillance Bureau, and the Power Supply Service Center.
The suspects were told they had violated new anti-cryptocurrency legislation, which was introduced in China on September 24 as part of a crackdown reported earlier in the year.
The notice stated that “virtual currency trading activities are illegal financial activities” and that cryptocurrency mining “consumes a lot of electricity.”
This would be a violation of the “Law on Energy Conservation of the People’s Republic of China”.
Investigators immediately cut power to the site and the manager was ordered to shut down all computers.
The regional authorities say that the operators will be “held criminally responsible” and “resolutely punished”.
It is understood that a letter has been sent to the appropriate authorities requesting that more attention be paid to “minor” behavior during routine patrols, and that potential violators be reported.
The price of Bitcoin surged in the weeks following China’s cryptocurrency ban and the rally shows no signs of slowing down, with prominent analyst Plan B predicting Bitcoin could hit $ 135,000 in a matter of weeks .
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