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Chinese Courts Sentence Crypto Miner, Fraud Rings as Enforcement Continues
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Crypto mining and investment in most of their forms have been shunted to the margins of society in China, but in some parts of the country, appetite for mining coins remains high, to the extent that some seem prepared to steal electricity from the grid to fuel their efforts.
Per the National Business Daily, the People’s Procuratorate of Fengxian District, Shanghai, has heard the case of an individual surnamed Xu who was found to have stolen some USD 12,200 worth of electricity from the city’s grid to power an elaborate token mining setup.
The procuratorate explained that a power engineer was sent to investigate possible irregularities in the district and eventually came upon a 300 sqm private house that had been rented by Xu. The engineer
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