Crypto- crime has increased significantly since last year. On the 14th of April at 7:30 PM Taiwanese miner, Wu was shot twice by two local gangsters over the delay in the transactions. The aggrieved miner claims the trading restrictions implemented by the Chinese government to be the reason for the incident. He stated that due to constrained protocols on cryptocurrency in China, he was not able to exchange the profit for fiat money in the limited time provided by the gangsters. Hence it became the crux of the issue and subsequently, he was shot in the ankle.
The report by Liberty Times Net states that the gangsters invested 1.7 million dollars in Wu’s mining operation. He supposedly made a profit of $370,000 which was to be transferred to the gangsters. This is a work hazard to all the crypto miners and investors, not only in China but all over the world.
There were other cases of crypto-crime in the 1st quadrant of the year in the countries such as Canada, U.S., and Singapore where Bitcoin investors were robbed off 330,000 dollars. On the contrary, these crimes occurred due to the hike in the digital value of cryptocurrency.
This is yet another instance of organized crime in the world of cryptocurrency.
Liberty Times Net quoted in its report:
“The suspects Gao Qitang and Chen Yumin shot with two guns and shot at the surnamed Wu surnamed Wu. Being affected by bouncing, the ad hoc group of the Haishan Police Sub-bureau learned from the license plate that the owner was too high.”
Since January, China has scrutinized the flow of cryptocurrencies in the country. Therefore investors have shifted to offshore accounts. The Chinese officials are trying to bring in strict policies and regulations which would eventually cause a rift in the market. In this case, Taiwan miner supposedly had a mining facility in the mainland China which was not disclosed.
According to recent news, categorization of Bitcoin as a commodity than a currency by the Chinese officials is a hindrance for Bitcoin miners like Wu to expand their commerce.
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