Japan to Give First Jail Sentence For Hidden Mining

Unemployed 24-year-old resident of the city of Amagasaki received one year's imprisonment with a three-year suspended sentence
03 July 2018   475

The Japanese court for the first time issued a guilty verdict for using a hidden mining of cryptocurrency, Bitcoin com reports.

On July 2, the Sendai District Court sentenced an unemployed 24-year-old resident of the city of Amagasaki, Hyogo Prefecture, to one year's imprisonment with a three-year suspended sentence.

This verdict was the first decision in the case of the spread of the browser-based CoinHive Miner to other people's computers for the hidden mining of Monero.

In the autumn of 2017, three suspects created websites that installed a virus-mining program on their devices without their consent.

One of them, the law enforcement agencies of Japan have imposed a fine of 100 thousand yen (about $ 900) for the illegal deployment of the virus. He himself, however, argued that in fact this program is not a virus, but is "a method similar to what is used to distribute online advertising."

Since June 18, the Financial Services Agency of Japan (FSA) has banned anonymous crypto-currencies, including Monero, because of the potential for their use in fraudulent purposes.

Also this week it became known that the Agency is considering the possibility of changing the regulatory and legal framework for controlling exchange operations with bitcoin and other cryptocurrencies.

SoftBank to Deny Deal With Bitmain

It is noteworthy that Tencent has not yet commented on the situation
20 August 2018   92

The Japanese media corporation SoftBank came out with an official refutation of its participation in the investment deal with the largest manufacturer of mining equipment Bitmain. This is reported by Cointelegraph.

Information on the participation of Tencent and SoftBank in the financing of Bitmain appeared at the beginning of the month. Then it was reported that Tencent and SoftBank invested $ 1 billion.

Neither the SoftBank Group Corp. nor the SoftBank Vision Fund were in any way involved in the deal.
 

Kenichi Yuasa

Corporate Communication Office, SoftBank Group Corp.

It is noteworthy that Tencent has not yet commented on the situation.

According to the chief strategic director of Blockstream Samson Moe, Bitmain is increasing the pace of financing due to unsatisfactory financial results of the second quarter. He estimates the company's losses at $ 600-700 million.

Bitmain plans to leave on IPO already in September. Estimates of the volume of future investments vary from $ 3 billion to $ 18 billion.