China’s anti-graft watchdog has warned that authorities are keeping a close eye on possible corruption behind underground cryptocurrency mining that persists even after the government banned the sector.
See related article: China ousts former official for supporting crypto mining, corruption
Fast facts
- The Central Commission for Discipline Inspection (CCDI) of the Chinese Communist Party said on Thursday that some state-owned entity employees use public resources to mine crypto, an issue that’s repeatedly occurred despite the September ban.
- The CCDI said its branch in the eastern Zhejiang province found 48 illegal crypto mining suspects after “randomly” raiding 20 state entities and 36 IP addresses.
- In November, Xiao Yi, a former provincial-level official in the southeastern province of Jiangxi, was removed from office and expelled from the Communist Party after he was accused of abusing his power to support crypto mining activities.
- China started an intensive crackdown on crypto mining last May, and subsequently imposed a blanket ban in September.
See related article: China busts crypto mining rigs disguised as EV charging ports