Cryptocurrency miner arrested by Chinese Police for stealing power
Cryptocurrency miner is detained by the legal authorities of China under the allegation of power theft for his crypto mining activity. The motive of the miner behind the theft has been fuelling an illegitimate crypto mine. According to a previous report by BCFocus, the Chinese Police initially captured 600 computers used in another case of illegal cryptocurrency mining.
In the eastern province of China’s Anhui Province, the Chinese cops have confiscated computers which exceed 200. The miners used these computers for illegally mining Ethereum [ETH] and Bitcoin [BTC]. Xinhua news agency reports that the complaint was filed when the power grid organisation in the local area reported. The power company complaint when they observed that the amount of electricity consumption has strikingly increased.
In the months of April and May of this year, a suspect had stolen an electricity of 150,000 kW. It was at this time when the police was approached by the grid company. The identification of the Chinese suspect is through his surname Ma. He admits to the legal authorities that he nurtured a dream of generating money by mining cryptocurrency.
In April, 2018, the suspect purchased the hardware. However, later he noticed that the cost of daily power consumption exceeded 6,000 yuan or $921. Hence, Ma confessed before the police officials that the mining procedure did not prove to be beneficial for him during detention.
Previously, China imposed a ban on the circulation of cryptocurrency. However, despite the legal imposition of ban by Central Bank, rampant sale of token continued. This was reported by the Chinese media in the month of May, 2018.
There has, indeed, been previous instances in China when Bitcoin [BTC] miners have been detained for stealing power. There have been a minimum of two legal cases when illegal Bitcoin [BTC] miners have been arrested for power theft.
An instance in Tianjin witnessed the detention of six suspects. The police officers made an allegation on the suspects that they hired 600 crypto miners. This hiring was done for generating Bitcoin [BTC] with power drawn from the power grid located in the local area. According to the Xinhua News agency, the incident might be the “largest power theft case in recent years.”
Image via Google
Join our Telegram group