million-greenback-gpu-counterfeiting-ring-busted-by-chinese-language-police

Chinese language police have arrested 22 individuals in reference to promoting counterfeit GPUs at on-line retailers. 

Police from Binzhou Metropolis, situated within the Bincheng district of China, raided a warehouse of a gang suspected of buying previous GPUs from cryptomining rigs, cleansing and repackaging them on the market as new. That is the results of a reported year-long investigation (through Videocardz).

In keeping with the police, it was an elaborate operation involving a number of totally different crews, every liable for numerous duties. One group ‘acquired’ the GPUs, one other was charged with cleansing and testing them, and one other group packaged and labelled them to seem model new. After all, a group was additionally liable for promoting the counterfeit merchandise.

Because the finish of the crypto mining increase, the second-hand market, particularly in China, has been flooded with used GPUs. Many of those GPUs suffered super put on and tear from 24/7 mining, generally drastically affecting their efficiency and positively their resale worth.

Victims would not realise till it was too late that they’d paid full worth for GPUs listed as new, however that had been value only a fraction of the fee. Some scammers have even gone so far as repainting GPUs and passing them off as new. 

Of the 22 arrests, solely seven people are going through felony fees. Police declare the worth of the bogus GPUs concerned of their felony case is estimated at over $2 million USD.

There’s additionally a chance some counterfeit GPUs have made their approach to US retailers, so exercising warning is suggested when searching for a brand new graphics card from a third-party vendor. As a rule of thumb, if the value for a brand new GPU feels too good to be true, you are most likely right.