One of the largest “Filecoin” project whales has been captured in China…Details here
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Answer One of the largest “Filecoin” project whales has been captured in China…Details here
Veteran Decentralized Project (FIL) seeks to build a distributed and decentralized data storage ecosystem.
Shortly after the first anniversary of the launch of the mainnet, Filecoin enthusiasts were targeted with news about police raids of one of Filecoin’s largest project whales.
Filecoin community under fire: 31 arrested and $80 million confiscated
According to a press release by Xinhua shared by Mr. Wu, the municipal police unit of the Chinese city of Xúzhōu has completed a large-scale anti-crime raid with the participation of 18,000 police.
BREAKING: Local police have arrested 31 people from one of the world’s largest Filecoin companies, Star Alliance (星际). The value of FIL and other cryptocurrencies seized was $80 million. Reason suspected in MLM. pic.twitter.com/V7rN2OEIkw
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– Wu Blockchain November 6, 2021
In the process, Chinese police have attacked entities and individuals involved in drug smuggling, counterfeiting, money smuggling, prostitution, digital fraud, etc.
Fèngxiáng police have arrested 31 members of the Star Alliance Network’s “Multi-Level Marketing” project.
The officers also confiscated nearly $80 million in various cryptocurrencies, including Ethereum, FIL, and TDB.
Mr. Wu stated that Star Alliance Network is one of the largest Filecoin companies.
At the same time, representatives of “Star Alliance” issued a statement that the confiscated funds were used in illegal activity, and therefore the arrests have nothing to do with the company’s business.
The Filecoin project celebrates its first anniversary on the mainnet:
As such, the majority of Star Alliance officials arrested are back in action, and all services will be restored after the investigation is completed.
On November 4, 2021, the Filecoin team shared stats on what the project achieved during its first major year.
According to their statement, the product is running “13 EiB” from file storage.
To put it mildly and simplify the concept, this equals 3.77 billion 1080p movies or 58,500 copies of all Wikipedia articles released by the fourth quarter of 2021 in all languages of the world.
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