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Here’s what happened in crypto today

Published 08/22/2023, 05:01 PM
Updated 08/22/2023, 06:40 PM
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China's crackdown on the crypto economy broadened this week after a former government official was sentenced to life in prison for Bitcoin mining and a slew of corruption charges. Meanwhile, the Terra.money website has been temporarily closed after it was compromised over the weekend by hackers attempting to scam users via phishing attacks and social media app Friend.tech has denied a report suggesting its database of users had been “leaked.”

Chinese official faces life in prison for BTC mining, other charges

Xiao Yi, a former member of the Jiangxi Provincial Political Consultative Conference Party Group, has reportedly been sentenced to life in prison for a slew of charges that include corruption, abuse of power and Bitcoin mining.

Xiao Yi awaits sentencing. Source: Intermediate People's Court of Hangzhou City

Terra.money website frozen to prevent more phishing scams

Friend.tech denies report that database of over 100,000 users was leaked

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