Bitmain deployed app to track employees before layoffs, report
Bitmain, the crypto mining mogul, recently laid off half of its workforce. A new report from a local media outlet claims that the mining giant used a computer monitoring tool to overlook the behavior of employees at work before the layoffs. The report stated that the company deployed an app on the computers of their employees to supervise their work status.
Bitmain used an app called Appia, a public cloud-based SaaS service developed for AI security systems, wrote the report citing sources. “Don’t cite me in the report, the company is watching,” the source cited in the report.
Reportedly, Bitmain’s employees are unhappy about the company and their boss since their sacking. Apparently, Jihan Wu, the CEO of the mining mogul vanished on the day of the layoff without saying a word to the employees.
Bitmain had filed for its multi-million dollar IPO in September. The filing caused a commotion in the crypto community as the mining giant was the first major crypto startup to file for an IPO. Many say that Bitmain IPO is a dangerous investment because of its large BCH holdings. The firm accumulated large amounts of BCH through their hardware business which involves the sale of ASIC chips and miners. The revenue from the sales is stored in two sales wallets.
It is believed that Bitmain is trying to reduce its BCH holdings by selling them in the crypto market. Reportedly, the market is not liquid enough to accept all the coins Bitmain holds.
Bitmain is also facing a $5 million class-action lawsuit for alleged unauthorized mining. The Chinese bitcoin evangelist’s company is embroiled in other scandals as well. The mining giant also faced a rough patch after the bear market last year which caused several of its mining machines to be taken off the market.
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