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Bitmain, the mining crypto tycoon, has recently fired half of his work force. A new report by a local media states that the mining giant has used a computer monitoring tool to neglect employee behavior at work before layoffs. The report states that the company has implemented an app on their employees' computers to oversee their work status.
Bitmain used an app called Appia, a public cloud-based SaaS service developed for IA security systems, the report wrote quoting sources. "Do not mention me in the report, the company is watching", the source cited in the relationship.
Reportedly, the Bitmain employees are unhappy with the company and their boss from the time of the dismissal. Apparently, Jihan Wu, the managing director of the mining magnate disappeared on the day of his dismissal without saying a word to the employees.
Bitmain had presented its multi-million dollar IPO in September. The deposit caused a hustle and bustle in the crypto community as the mining giant was the first major crypt to launch a public bid request. Many say that Bitmain IPO is a dangerous investment due to its large holdings in BCH. The company has accumulated large amounts of BCH through its hardware business that involves the sale of ASIC chips and miners. Revenue from sales is stored in two sales portfolios.
It is believed that Bitmain is trying to reduce its holdings in BCH by selling them in the encrypted market. Reportedly, the market is not liquid enough to accept all the coins that Bitmain holds.
Bitmain is also facing a $ 5 million class action lawsuit for allegedly unauthorized extraction. The company of the bitcoin Chinese evangelist is also involved in other scandals. The mining giant also faced a bad situation after the bear market last year, which caused the removal of many of its mining machines from the market.
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