German police have reportedly arrested five men and one woman for allegedly stealing electricity for a crypto mining farm.
Police officers reportedly tracked down a system of 49 computers operating in the premises of former electrical services company PGH Elektro. Since at least 2017, the mining farm has reportedly consumed as much electricity as 30 households, with the damage for the affected electricity supplier estimated to around 220,000 euros ($250,053).
Per local news site FreiePresse, 30 of the 49 computers were equipped with special cryptocurrency mining hardware, with a total of 80 graphics processing units (GPUs) installed. During the raid, the police reportedly arrested five men and one woman for stealing electricity to operate the cryptocurrency mining activity.
In December, a Taiwanese man suspected of stealing electricity worth over $3 million to mine Bitcoin (BTC) and Ethereum (ETH) was arrested. The suspect was accused of allegedly stealing the electricity to mine cryptocurrencies worth over 100 million yuan ($14.5 million). Yang reportedly hired electricians to rewire the premises in such a way as to evade electricity metering and detection of the stolen power.
In October, a Chinese citizen was sentenced to three and a half years in jail for stealing power from a train station to fuel his BTC mining operations. Xinghua was said to have stolen electricity from one of the factories at Kouquan Railway back in November and December 2017 to power his 50 Bitcoin miners and three electric fans around the clock.
In May, Cointelegraph reported that employees of the local headquarters of the National Police in Rivne, Ukraine, were allegedly mining cryptocurrency at work for four months. A regional bureau investigator reportedly confiscated a total of eight video GPUs, six power supply units, two hard drives, a motherboard, and a full computer system unit.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.