Chinese Gambling
KUALALUMPUR: Police have arrested six Chinese nationals suspected of being involved in an online gambling syndicate in Mont Kiara, yesterday.
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Brickfields district police chief ACP Anuar Omar said at 7 pm that they raided a gambling house located in the area and arrested four men and two women.
“The suspects arrested were between 20 and 30 years old and the police also seized items including three laptops, 10 telephones, and three modems. Police found that the syndicate rented the house that was used as a gambling den for RM2,000 a month and frequently moved houses to avoid being detected by the authorities,“ he said in a statement today.
He said investigation found that the syndicate had carried out online gambling activities for the Chinese market.
He said all the suspects were remanded for 14 days starting today and that the case was being investigated under Section 4 (1) (g) of the Common Gaming Houses Act 1953 and Section 39 (b) / 6 (1) (c) of the Immigration Act 1963. — Bernama
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The company, which generated just $1.4 million last quarter, has a billion dollar market cap.
500.com, a Chinese gambling company, is acquiring Blockchain Alliance Technologies Holding Company, the company announced today.
Blockchain Alliance owns the valuable BTC.com domain name. The deal includes:
the transfer to the Company of the entire mining pool business of Bitdeer Technologies Holding Company (“BitDeer”) operated under BTC.com, including the domain name BTC.com and the cryptocurrency wallet of BTC.com (collectively, the “BTC.com Pool Businesses”).
500.com is publicly traded on the NYSE with a market cap of around $1 billion, and its share price rocketed up today.
Seem like a healthy valuation for a company that generated just $1.4 million in revenue in its latest quarter? Well, shares were trading for about 1/1oth of their current price until this year, at which point the company started getting involved with cryptocurrency. To the moon!
Like many Chinese company domains, 500.com doesn’t resolve unless you add the www. in front.