Electricity Thief That Mined $3 Million USD In BTC And ETH Gets Arrested

2018-12-27 20:35

Electricity Thief That Mined $3 Million USD In BTC And ETH Is Arrested

A Taiwanese man which is being accused of stealing about $3.25 million USD in electricity to mine Bitcoin (BTC) and Ethereum (ETH), now he has been recently arrested in the country. The surname of the man is “Yang” but his first name was not disclosed by the police.

He is suspected of stealing the electricity from the Taiwan Power Company and using it to get around the same amount of money in cryptos. He is being accused of stealing the power from 17 stores. First, he rented places like internet cafes or toy stores and then he hired electricians to redesign all the wiring so he could easily steal the electricity.

The operation was first discovered by the Taiwan Power Company, the company responsible for the electricity in the area, after noticing some instabilities in the power network. Yang was arrested soon after. At the moment, the electricians who helped the man to adulterate the sealed meters to use the electricity for free were still not caught.

People Are Stealing Electricity For Mining Cryptos

Unfortunately, the man was far from being the only person who had a similar idea. Several people around the world had similar ideas of how to cheat the system to mine cryptos. With the bear market making prices go down so hard, this was the way that these people found out to get easy profits. In fact, a lot of cases have happened in Asia, mostly in China.

For instance, two principals at a Chinese school recently used the facilities to mine ETH and got into trouble when people found out.

Another case also happened in China, most specifically in the province of Anhui. There, a man was arrested for stealing a significant amount of electric energy to mine tokens. The local power company tracked energy spikes to discover that the man was stealing energy.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

CK USD (CKUSD) на Currencies.ru

$ 0.2153 (+0.52%)
Объем 24H $0
Изменеия 24h: 0.67 %, 7d: -2.33 %
Cегодня L: $0.2128 - H: $0.2153
Капитализация $0 Rank 3492
Цена в час новости $ 0.9836 (-78.11%)

arrested electricity btc eth usd million man

Источник: bitcoinexchangeguide.com

arrested electricity → Результатов: 11


Фото:

Mining Round-Up: Ebang Files for IPO in HK, Miner Arrested in China

In recent mining news, major mining chip manufacturer Ebang Communications has filed for an Initial Public Offering (IPO) in Hong Kong, a Chinese miner has been arrested for allegedly stealing 150,000 kilowatt-hours (kWh) of electricity in roughly one month, and a report has provided unique insight into the state of mining in the Russian exclave […] The post Mining Round-Up: Ebang Files for IPO in HK, Miner Arrested in China appeared first on Bitcoin News.

2018-6-28 12:55


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum's transaction size falls 54%: Why it's not bad news for ETH

ETH could be close to its bottom after the transaction size failed to spike. While the price might slip, traders are convinced of a quick recovery. On the 19th of May, AMBCrypto observed thaThe post Ethereum's transaction size falls 54%: Why it's not bad news for ETH appeared first on AMBCrypto.

Whale watch: $1B in Toncoin trades shake the market, tracking what's next

Toncoin has seen a surge in whale activity on its network. TON, however, is at risk of a price decline. Toncoin [TON] has witnessed a spike in whale activity on its network in the past few wThe post Whale watch: $1B in Toncoin trades shake the market, tracking what's next appeared first on AMBCrypto.

Predicting how ETH will react IF the SEC approves Ethereum ETFs

Coinbase analyst sees a 30-40% chance of approval for Ethereum ETFs. Ethereum's dominance and performance are at a low, suggesting a need for positive development soon. It is generally belieThe post Predicting how ETH will react IF the SEC approves Ethereum ETFs appeared first on AMBCrypto.

Ethereum sets sights on $4K: Will THIS spark a new rally for ETH?

ETH was up by more than 6% over the last seven days.  A few of the metrics suggested that the bullish momentum might not last.  Ethereum [ETH] caught investors off guard as its price gaineThe post Ethereum sets sights on $4K: Will THIS spark a new rally for ETH? appeared first on AMBCrypto.

Ethereum ETFs progress, but Solana may turn things bearish instead - How?

New data indicated that the likelihood of approval of Ethereum ETFs was relatively high. Ethereum lost market share to Solana, however, the price of ETH continued to surge. Ethereum [ETH] haThe post Ethereum ETFs progress, but Solana may turn things bearish instead - How? appeared first on AMBCrypto.

Fantom Sonic: Will Ethereum integration help FTM's price?

Fantom disclosed that Ethereum would enable the token migration. While FTM's price increased, reaching $1 could be challenging in the short term. Layer-1 blockchain Fantom [FTM] has discloseThe post Fantom Sonic: Will Ethereum integration help FTM's price? appeared first on AMBCrypto.

Avalanche [AVAX] jumps 7% ahead of token unlock: Is $43.50 coming?

Volatility around the token may be low, considering it has previously released 60% of its supply. AVAX might hit $43.50 if the volume continues to back the price action. The price of AvalancThe post Avalanche [AVAX] jumps 7% ahead of token unlock: Is $43.50 coming? appeared first on AMBCrypto.