BCause Mining, a Bitcoin (BTC) mining company in the city of Virginia Beach, USA, was ordered to liquidate the assets.
In an October 9 article, local Virginian-Pilot news outlet reported that the Bitcoin mining company filed for bankruptcy earlier this year. This week, a federal judge approved the proposal to convert the filing from a reorganization to a Chapter 7. liquidation.
BCause Mining was ordered to liquidate its assets, terminate operations and lay off its 27 full-time and four part-time workers.
Recover $ 500,000 scholarship
The now closed mining company received a $ 500,000 grant in January 201
Virginia Beach Municipal Spokeswoman Julie Hill said the city will now consider filing a bankruptcy lawsuit in an attempt to recover some of the money it paid to the mining company. The city of Virginia Beach will be considered an unsecured creditor, which means that the claim will only be processed when all of the secured claims are processed.
West Virginia & # 39; s blockchain voice app hacked by student?
Cointelegraph has previously reported that the Federal Bureau of Investigation (FBI) is investigating whether a University of Michigan student attempted to hack the West Virginia voting record. West Virginia Secretary of State Mac Warner alerted the FBI during an unsuccessful attempt to gain unauthorized access to the Voatz voting app and said the activity for the trial came from IP addresses linked to the University of Michigan.