A group that sold second-hand Grabo used for mining virtual currency as new was arrested
Twenty-two fraudulent groups were arrested for selling used graphic boards used for cryptocurrency mining in China as 'like new' or 'new'.
Bincheng Police Destroyed One System Blasphemy Card Crime Fighting, Income Over 15 Million - IT House
Group arrested for selling former cryptomining graphics cards as brand-new models | TechSpot
Chinese police make arrests in connection with counterfeit GPU sales - VideoCardz.com
https://videocardz.com/newz/chinese-police-make-arrests-in-connection-with-counterfeit-gpu-sales
In 2022, China's Supreme People's Court made a decision that `` virtual currency transactions are regarded as illegal financing '', and China has strengthened its stance to crack down on virtual currency transactions, as well as virtual currency mining. Still, there are many people in China who trade and mine cryptocurrencies by circumventing regulations, and it was reported that by 2022, the total amount of mining in China had increased to the second largest in the world.
However, in addition to raising interest rates to combat inflation and concerns about economic stagnation, the cryptocurrency mining boom has been waning in China, such as the fact that mining using GPUs has become virtually impossible due to the large-scale Ethereum update `` merge '' that took place in September 2022.
With the decline in popularity of mining using GPUs, a large number of second-hand graphics boards began to flow into the market. Meanwhile, it has been reported that unscrupulous traders have appeared who purchase these graphic boards in large quantities, clean and repackage them, and then sell them as 'new graphic boards'.
The photo below was taken at the base of a used graphic board sales group located in Binzhou City, Shandong Province, China. This sales group purchased large quantities of used graphics boards and systematically cleaned, tested, packed, and sold them.
After more than a year of investigation, on July 20, 2023, the police in Binzhou City conducted a house search against this group, and found a large amount of mining machines, graphic boards, and packaging packages with the graphic board removed. Police arrested a total of 22 people involved in the group for red-handed crime, but only seven were actually held criminally responsible. According to the police, this group is said to have unfairly earned a total of $ 2 million (about 280 million yen) by selling used graphic boards as new.
On the other hand, local police said, ``It is unknown whether the group was successfully destroyed because the warehouse where the house was searched this time may be just one of several activity sites used by the criminal group.''
About how to distinguish between a new graphic board and a used graphic board
In addition, with second-hand graphics boards, there are cases where ``distortion of the board'', ``deterioration of parts'', etc. that cause problems with the cooling mechanism, and ``the GPU core does not work due to short-circuiting of the connector''.
What are the points to be aware of when purchasing a used GPU or graphic board? -GIGAZINE
In order to avoid purchasing counterfeit graphic boards etc., overseas media VideoCardz and IT House recommend that when purchasing a new graphic board, purchase from the official page of the graphic board manufacturer. It also points out that graphic boards priced far below market prices may be refurbished or counterfeit products.
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in Hardware, Posted by log1r_ut