The story behind a massive bitcoin mining heist in China

Quick Take

  • To outsiders, the recent arrest of a former Chinese official for “supporting” a local crypto mining business may appear to be a direct outcome of China’s ongoing crackdown on crypto mining.

  • But the backstory actually stretches back more than three years, and what he is accused of doing is far more than just supporting a crypto mining business.

A Chinese official was recently arrested for "supporting" a crypto mining business. But the real story stretches back more than three years.

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