CEO Sky Mining May be Gone With $35M

Information about the incident was also transmitted to the local police
31 July 2018   237

From accounts of the Vietnamese mining company Sky Mining $ 35 million disappeared. According to the Coindesk, the funds could be stolen by the CEO of Le Minh Tam, who disappeared without a trace about a week ago.

Before disappearing Tam wrote on Facebook that the profitability of his business fell along with the prices of cryptocurrency and asked investors to forgive "for everything". He also invited them to the company's office in Ho Chi Minh City to allegedly return the invested funds and officially declare bankruptcy.

However, the arriving investors found that the office was closed, and 600 devices for crypto currency export were exported to an unknown destination.

Vice Chairman of Sky Mining Le Minh Hie suggests that there could escape to the United States. He also said that the company formed a council to help the affected investors and assess the damage caused.

Information about the incident was also transmitted to the local police.

In April, the Vietnamese authorities launched an investigation into the company Modern Tech, which is suspected of fraud and misappropriation of 32 thousand ICO-investors for $ 660 million.

Vietnam to Ban Cryptocurrency Miners Import

Vietnamese companies and citizens stopped importing mining equipment in early July in accordance with the order of the customs service of Ho Chi Minh City
13 August 2018   103

After several months of thinking, the Vietnamese authorities approved a ban on import of crypto-currency mining equipment, CCN reports.

Vietnamese companies and citizens stopped importing mining equipment in early July in accordance with the order of the customs service of Ho Chi Minh City. Representatives of the ministry said on Monday that in the first half of 2018, 3 664 devices for mining were imported to the country. 3 000 of wentfell on four enterprises, while the remaining devices were imported by individuals and companies that did not provide their tax code. Most of the devices turned are Antminer miners.

The Ministry of Finance of Vietnam for the first time proposed to ban the import of equipment for mining in June, after the authorities decided to tighten control over the cryptocurrency sector against the backdrop of the spread of fraudulent schemes. 

The Ministry of Finance demanded that state structures strengthen control over the import and use of equipment for the mining of cryptocurrencies. In July, the central bank of Vietnam agreed to support the proposal of the Ministry of Finance.

The Ho Chi Minh City Customs Authority reports that in 2017 9,300 ASIC devices were imported into the country. Cryptocurrency is not allowed for use in Vietnam. The central bank of the country refused to include it in the list of non-monetary payment means, which include checks, payment orders and bank cards. Violators of the law, including among ordinary users, face a fine of up to $ 9,000.