The machines are designed to efficiently solve complex puzzles to ‘mine’ digital currencies
Many ‘bitcoin mining farms’ with thousands of computers are reportedly running in Vietnam
Unaware victims bought into a fraudulent investment fund with promises of high interest rates and referral rewards
A fine of up to VND200 million (US$10,959) and possible criminal charges will be imposed on violators
Hopeful investors are pouring large sums into digital assets without really understanding the odds
The move marks the acceptance that there is no viable way to rescue the company, and heralds the apparent end of an exchange that at one time accounted for around 80 percent of global transactions in the virtual currency.
Chinese speculators have driven Bitcoin prices into the financial stratosphere this year, peaking at 7,588 yuan (now $1,250) on November 30.
The electronic currency that is suspected of being used for illicit transactions on the Internet reached a value of $900 for the first time on specialized currency exchange websites.
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