China’s police fairly confiscates hundreds of mining rigs

The police of China have confiscated several hundreds of mining rigs and computers in response to the complaints of the local energy company. Miners were consuming too much energy and this was not acceptable for the authorities, reports imply.

What really shapeshifts this situation from yet another abuse of power to the understandable actions is that those miners were not paying for electricity, if the reports are true. Due to the amount of energy stolen, police reports that this was “the largest power theft case in recent years”.

Chinese authorities are very suspicious towards the local crypto economy and demonstrated their disdain to the market several times, implying it’s toxic for the traditional spheres of economy. ICO founders were the first to see the governmental oppression after authorities decided to ban this kind of enterprise. As suggested by some witnesses of how events turned out that day, many entrepreneurs have not been warned in advance.

Russia has had a similar case with miners who unlawfully intercepted power grid resources and used the old factory building to efficiently get more bitcoins.

Image courtesy of Ozan Karakoc Design Studio, Inc