Venezuela Seizes 315 Bitcoin Mining Rigs: Miners Discuss Illegal Confiscation, Police Extortion

The Venezuelan military has seized 315 Bitmain Antminer S9 bitcoin mining rigs it claims are not properly registered to operate in the country. Although cryptocurrency mining is legal in Venezuela, miners say they have been unfairly treated, citing illegal seizures of mining equipment and police extortion. Venezuela Seizes Bitcoin Mining Equipment The Bolivarian National Guard of Venezuela (GNB) announced via Twitter Monday that it has seized 315 Antminer...

BitClub Programmer Admits Mining Scheme Stole $722M in Bitcoin

A 35-year-old Romanian programmer of the Bitclub Network pleaded guilty on Thursday to his role in establishing the mining pool Ponzi scheme that defrauded investors of hundreds of millions of dollars in bitcoin. The programmer, Silviu Catalin Balaci, confirmed in his plea that BitClub had indeed wreaked the economic damage that prosecutors accused the mining pool’s principals of committing: $722 million in stolen bitcoin over five years. Balaci’s...

China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan

The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). Now the Chinese ride-hailing corporation Didi Chuxing will be trialing the newly developed digital yuan in a “strategic partnership.” Whether people want to believe it or not, the digital yuan is coming soon, and the PBoC has been...
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