BCause Mining, a Bitcoin (BTC) mining operation inside the metropolis of Virginia Beach inside the United States, was ordered to liquidate its property.

In an Oct. 9 article, native information outlet the Virginian-Pilot reportable that the Bitcoin mining firm filed for chapter earlier this 12 months. This week, a federal decide authorised the movement to transform the submitting from a reorganisation to a chapter 7 liquidation.

BCause Mining was ordered to liquidate its property, close down its operations and lay off its 27 full-time and 4 part-time employees.

Recoup $500,000 grant

The now-defunct mining firm obtained a $500,000 grant in January 2019 from the town of Virginia Beach to develop its operations to an area rented warehouse. BCause had pledged to take a position greater than $60 million in a large growth, which power have made it the most important cryptocurrency mining operation in North America.

Virginia Beach municipal spokeswoman Julie Hill mentioned that the town will now flirt with submitting a declare in chapter court in an try and recoup among the cash it paid bent on the mining firm. The metropolis of Virginia Beach could be thought of an unsecured creditor, which signifies that its declare will alone be self-addressed as soon as all of the secured claims are handled.

West Virginia’s blockchain balloting app hacked by pupil?

Cointelegraph beforehand reportable that the Federal Bureau of Investigation (FBI) is investigation whether or not a pupil on the University of Michigan tried to hack the West Virginia’s balloting app. West Virginia’s Secretary of State, Mac Warner, alerted the FBI throughout an unsuccessful try to realize unauthorized entry to the Voatz balloting app and mentioned that the exercise of the try got here from IP addresses connected to the University of Michigan.