BIT Mining, previously known as online sports casino 500.com, made around $2.5 million worth of bribes to Japanese officials between 2017 and 2019.
Bitcoin mining firm BIT Mining has admitted it authorized paying bribes to Japanese politicians in an attempt to win a bid for a resort and casino license in Japan and has agreed to pay $10 million worth of fines to the United States government to resolve the charges.
BIT Mining’s bribery scheme occurred between 2017 and 2019 when the firm was known as 500.com — a Chinese online sports lottery company.
The bribes consisted of roughly $2.5 million worth of illicit cash bribes, entertainment, and extravagant trips for Japanese politicians, according to the US Securities and Exchange Commission’s Nov. 18 statement.
