The CEO of now-defunct GAW Miners has been sentenced to 21 months in prison and ordered to pay $9.2 million in restitution to investors.
Paycoin is a cryptocurrency that was created by developers from the company GAW Miners in 2014 and specializes in cloud mining. Paycoin (XPY) was created especially for the PayBase cryptocurrency payments processing platform. Paycoin used the SHA-256 algorithm and both proof-of-work (PoW) and proof-of-stake (PoS) methods to achieve distributed consensus. There was no Paycoin Initial Coin Offering. Nevertheless, this cryptocurrency was able to raise a lot of investments at that time since GAW Miners was popular among the crypto community and attracted many investors to their new project. The cryptocurrency can be kept in a special Paycoin wallet. The highest moment of Paycoin’s price was $12. However, after GAW Miners was shut down, it dropped sharply. Find out what the future holds for this cryptocurrency by following the Paycoin news.
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