The court issued an order to freeze $ 680,000 in the assets of the mining company Bitmain The Shenzhen District Court has ordered the freezing of assets for $ 680,000 belonging to a division of the Chinese mining company Bitmain, writes CoinDesk.

The court issues an order to freeze $ 680,000 in the assets of the mining company Bitmain

Shenzhen District Court Orders Freeze $ 680,000 Asset Owned by Chinese Mining Company Bitmain, writes CoinDesk.

The decision was made on September 27, but it was published only on Friday. According to the document, the court supported Dongguan Yongjiang Electronics, a company that supplies components for electronic devices and applied for asset protection in a contractual dispute with the defendant, which could potentially be awarded to it with favorable for her the outcome.

Century Cloud Core, which is the defendant in this case, is a significant division of Bitmain Technologies and is responsible for manufacturing, quality assurance and equipment completion. for mining cryptocurrencies.

How long the decision to freeze the assets will remain in effect is unknown. Under Chinese law, blocking of bank accounts can be imposed for up to six months, and other liquid assets up to one year..

From January Of 2019 At least four lawsuits have been filed against Century Cloud Core and Bitmain Technologies by various manufacturers of electronic components in Shenzhen. In March, Youda Electronics requested a $ 745,000 freeze held by Bitmain and its subsidiaries. On November 3, the court published a positive decision on this request. The rest of the plaintiffs withdrew their appeals.

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