Over 200 Computers used to Mine Bitcoin, Ethereum Sized by Chinese Police

Over 200 Computers used to Mine Bitcoin, Ethereum Sized by Chinese Police

Bitcoin Cryptomining News
June 22, 2018 by Sandra Onyeiwu
1527
According to reports, Chinese police seized more than 200 computers used to mine bitcoins and ethereum in a crypto-mining operation that allegedly stole electricity. Hanshan County police discovered that the electricity meter for the cryptocurrency mining operation had been short-circuited, which was an attempt to dodge the power bill. It is alleged that the suspect,
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According to reports, Chinese police seized more than 200 computers used to mine bitcoins and ethereum in a crypto-mining operation that allegedly stole electricity.

Hanshan County police discovered that the electricity meter for the cryptocurrency mining operation had been short-circuited, which was an attempt to dodge the power bill.

It is alleged that the suspect, identified by his surname MA, stole 150,000 kW hours of electricity for more than a month.

Ma told the police that he bought the computers in April in the hope of making money through mining, but discovered that the daily cost of energy was more than 6,000 yuan (US $ 927). He had not made any profits when he was caught.

Bitcoin and Ethereum mining are energy-intensive processes that depend on high-performance computers. Bitcoin and ethereum are different versions that use blockchain technology.

Cryptocurrency scam and theft has been on the rise, it was reported earlier last month Over 100 Devices were sized in a cryptocurrency Mining Farm in India.The police led the raid after the unit came under the radar for an alleged cheating and fraud case.

 

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