Bitmain had $680K in assets frozen by Chinese court amid electronic device supplier contract dispute

posted 7 months ago
A district court in Shenzhen China recently ordered the freezing of almost $680,000 in assets belonging to a subsidiary of Bitcoin mining giant Bitmain. The Shenzhen Court sided with electronic device supplier Dongguan Yongjiang Electronics, granting an application for asset protection in a trade contract dispute with Bitmain.

Chinese laws say freezes shouldn’t last more than a year. Since January 2019, at least four cases had been filed (and with 1, courts freezing funds) and then all were withdrawn, all by electronic device makers in Shenzhen against Bitmain.
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