Yet another case of power theft for cryptocurrency mining in China

Cryptocurrency may just be the new age of treasure hunting but as with any treasure, there do come pirates. In the eastern Chinese province of Anhui, more than 200 computers were found which were being operated by stealing power from the local power grid company.

The police then arrested the man when the power company informed the police about a sudden spike in electricity use, according to report by Coindesk. The suspect apparently stole over 150,000 kW hours of power between April and May 2018.

The man who is only recognised by his surname, Ma, told the police that he dreamed of making money through crypto mining. On realising the expenditure of power on a daily basis, he resorted to stealing the power.

This is not the only case of crypto mining in China. Around six people were arrested in Tianjin who according to the police used 600 cryptocurrency miners and stole the power from the local power grid. Xinhua News agency said that this may have been the "largest power theft case in recent years."

Source link