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China deepens search for undercover crypto miners By BTC Peers


China deepens search for undercover crypto miners

The Chinese government has added a new dimension to its campaign against cryptocurrencies. To find hidden miners, officials are inspecting educational and laboratory facilities.

New surveillance targets crypto miners that, in the face of intense mining operation crackdowns, went underground as data analysts or storage and education facilities.

According to an anonymous Chinese miner, he manages his business through strategic moves. Bloomberg reported that the anonymous Chinese miner changed the settings in which he operated to prevent irregular power consumption.

Another individual, this time a local internet provider, opined that the crypto industry would “seriously affect economic and social development and directly threaten national security”if it is given room to expand.

Chinese authorities threatened, in October 2018, to monitor computing activity. If irregular mining is detected, those who default could be subject to penalties in relation to their internet connectivity.

Last week, BTC PEERS reported that China’s Hebei province became the latest region to clamp down on mining operations. To gather data on suspected mining activity, the Chinese government has joined forces with citizens and whistleblowers.

Notably, large-scale cryptocurrency businesses in China are affected as well by strict regulations. Businesses linked to cryptos may be discriminated against at the Shenzhen central bank branch.

In light of these crackdowns, Huobi, a well-known Chinese exchange closed its Beijing operation this summer.

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