Venezuelan BTC Miners Forced to Halt Operations Amid Anti-Corruption Investigation
Crypto miners and exchanges in Venezuela will remain shut while the authorities try to cope with the multi-billion corruption case. The authorities of Venezuela have reportedly urged local bitcoin miners to temporarily halt operations while inspecting a major corruption scheme that could have drained up to $20 billion. People who are part of President Maduro’s inner cycle are suspected of orchestrating the crime that involved the national oil and gas company.
According to a Forbes coverage, large-scale BTC miners in Venezuela will have to turn off their machines due to an alleged corruption case that shocked the nation. It is estimated that between $3 billion and $20 billion are missing from Petróleos de Venezuela – a state-owned oil and natural gas company and the world’s fifth-largest exporter of hydrocarbons. Investigators accused some of the leaders of President Maduro’s political movement (known as Chavismo) of having a hand in the scheme. The Superintendencia Nacional de Criptoactivos (SUNACRIP) stands at the center of the process since it played a role in liquidating sales following the US sanctions against the company. It was also among the main institutions concerned with all types of energy usage and bitcoin mining.
Source
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