23 Nov Lawsuit Claims Bitmain Mined Bitcoin Using Customer Devices
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According to a class-action lawsuit filed in the US district court for Northern California, Bitmain has been taking advantage of its customers the past couple years in an interesting way: mining crypto for itself, using their resources, during the “initialization” process. You read that right. According to at least one Bitmain customer and bitcoin miner, who is filing a suit for damages in excess of $5 million on behalf of miners everywhere, the initial period during which a miner is in its owners’ possession is spent mining for Bitmain’s benefit.
The lawsuit brought by Gor Gevorkyan, who lives in Los Angeles, alleges that the initialization process for a Bitmain miner can be several hours in length. An outfit that purchased, say, 500 or more units, could, therefore, contribute significant hash power to Bitmain — at no actual cost to the company. In fact, the company has already profited prior to receiving this hash power.
Per the…
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