South Korean Energy Company to Audit Companies Suspected of Mining Cryptos

south korean energy company to audit companies suspected of mining cryptos

Sumary of South Korean Energy Company to Audit Companies Suspected of Mining Cryptos:

  • KEPCO, the South Korean state energy company, announced that it would start overseeing and auditing companies that it suspects of using industrial and agricultural electricity for cryptocurrency mining..
  • But this is not the first time that the state-run energy company is launching a crackdown on the illegal usage of electricity for crypto mining..
  • Suggested articles Previous Crackdowns In 2018, KEPCO found that 38 companies used industrial and agricultural power to run digital asset mining, leading to multiple investigations and fines for about 500 million Korean won..
  • The crackdown was possible due to a survey conducted by the company, which spotted a sudden surge in the electricity rates and irregular patterns in the usage of the power….

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