In China, began to block the bank accounts of miners

In China, began to block the bank accounts of miners

By Kluma | InterestingCrypto | 10 Jun 2020



Local authorities explain the freezing of funds by investigating a case of large-scale cryptocurrency fraud

Chinese miners report bank account locks. One of the businessmen said that his funds were frozen at the request of the police in Dongguan in Guangdong. The police explained that they are conducting an investigation into the case of major fraud using cryptocurrencies, writes 8btc .

Digital money holders were assured that they were not necessarily accused of illegal actions and would be able to regain access to their funds as soon as the authorities made sure that they were not related to the crime. Local media write that the freeze may be related to the activities of an over-the-counter market maker who broke the law.

Large platforms said they were cooperating with the police and themselves agreed to block suspicious transactions. For example, the Huobi exchange said that since 2018, it has been developing a system that has already helped the Fujian and Hunan authorities in fraud and money laundering prevention operations.


According to one of the OTC traders, the check has been going on for several months. Allegedly, it affected a fairly large number of market participants, and a significant part of the accounts associated with one of the OTC teams was blocked.


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