Mar 9, 2021 07:58 EST
Bitmain, a Beijing-based company best known for producing hardware for cryptocurrency mining, set up front companies in Taiwan in contravention of local law to hire semiconductor engineers with lucrative pay packages to develop AI technology for export to China, prosecutors in Taiwan allege.
According to local media reports, Bitmain set up two front companies in Taiwan under the names IC Link Limited Company and WiseCore to hire top engineers from Taiwan Semiconductor Manufacturing Company (TPE:2330) and MediaTek (TPE:2454). Although it isn’t illegal for China-based companies to set up branch offices in Taiwan, it requires registration with the government and it’s closely monitored under provisions in the