Venezuela Shuts Down Bitcoin Exchange, Arrests More Miners
Venezuela’s largest Bitcoin exchange Surbitcoin is no longer trading locally after its bank suddenly suspended withdrawal and deposit services. Surbitcoin To ‘Establish New Business Structure’. In a statement Thursday, the exchange said it would be forced to cease operations for at least two weeks while it “establishes a new business structure with new improvements and security measures.” Users had only one day to withdraw funds, the February 3 deadline having already passed. Any capital still held faces an “uncertain” future, it is reported, with the two-week offline period was not....
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Perhaps the biggest announcement is how SurBitcoin saw their bank account being revoked this week. The bitcoin situation in Venezuela seems to be evolving in the wrong direction as of late. After four miners were arrested last week, four others were taken into custody this week. Moreover, the country’s leading bitcoin exchange had its bank account revoked. Things are not looking all that great for cryptocurrency in Venezuela, although bitcoin will find a way to route around these problems. The four new arrests in Venezuela paint a troublesome future for cryptocurrency in the country.....
Authorities seized more than 400 Bitcoin miners in Venezuela this weekend in two major confiscations. Local reports indicate military personnel seized 332 miners from a transport truck. In another procedure, authorities seized 72 miners hidden in a house. These activities resulted in the apprehension of four individuals. Mining in Venezuela is perfectly legal, but it requires permits and licenses from Sunacrip. 400+ Miners Seized Authorities in Venezuela seized more than 400 mining machines last weekend in two separate events. In the first, 332 miners were seized at a control checkpoint in....
The law enforcement authorities have arrested four Bitcoin miners on charges of committing cyber fraud and theft of electricity. The people of Venezuela have been having a rough time since their economy went into a downward spiral. As the economy continues to worsen, Venezuelans have started to find Bitcoin as an alternative to their worthless bolivars. But the country’s government which failed to manage its economy doesn’t seem too happy about it. Recently, the law enforcement agencies in Venezuela cracked down on Bitcoin miners. The arrests were announced by the director of Cuerpo de....
All of these actions are leading to a lot of questions being raised by the Bitcoin community in Venezuela, and some people are worried about whether or not they should get out of digital currency. After all, nobody wants to be arrested for their involvement in digital currency, even though such actions by governments are frowned upon by Bitcoin enthusiasts and industry experts all over the world. Bitcoin usage and adoption seems to be on the rise in certain countries around the world, although that was only a matter of time according to some industry experts. Venezuela is an interesting....
Venezuela has arrested a group of Bitcoin miners for allegedly “affecting stability” of the country’s electricity supply. Thirsty Work Causes Problems for Miners. As reported in local news resource Criptonoticias, four people running 300 machines to mine bitcoins are now in custody in Charallave, Miranda province. The Venezuelan Scientific, Penal and Criminal Investigation Corps said that the operation, which also involved the selling of bitcoins on the country’s border, was having a negative impact on the national grid. “The modus operandi of these citizens was as follows: through the....