Mining News: 6 Crypto Suspects Arrested in Germany for $250,000 Electricity Theft

Must Read

CNN Interviews The TRON Foundation Founder And CEO Justin Sun

Julia Chatterley and Justin Sun, talk about digital content sharing, buying BitTorrent, crypto investing and the grand thing...

Winklevoss’ Ticket To Space Eventually Turns Out To Be An Expensive One

Tyler Winklevoss acquired an expensive ticket for an exclusive space journey. Winklevoss had bought the ticket from the...

Ethereum Mining Has Been Stopped By The Antminer E3

Bitmain is the leader of the cryptocurrency mining ASIC industry. The Antminer E3 has stopped mining the Ethereum...
5d85c99dd353c-bpfull
Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

In the German city of Klingenthal, Saxony, police have captured a gathering of suspects for taking power to work a cryptocurrency mining farm.

Police allegedly tracked down a system of 49 PCs working in the in the premises of former electrical services company PGH Elektr. Since at least the year 2017, the mining farm has apparently consumed as much electricity as 30 households, with the harm for the influenced power provider evaluated to around 220,000 euros ($250,053).

According to news site Freie Presse, 30 of the 49 PCs were furnished equipped with special cryptocurrency mining hardware, with an aggregate of 80 graphics processing units (GPUs) installed. (GPUs) introduced. Amid the attack, the police allegedly captured five men and one lady for taking power to operate the cryptocurrency mining activity.

In December, a Taiwanese man suspected to steal the power worth over $3 million to mine Bitcoin (BTC) and Ethereum (ETH) was arrested. The suspect was blamed for purportedly stealing the power to mine cryptocurrencies worth more than 100 million yuan ($14.5 million). Yang purportedly contracted 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 condemned to three and a half years in prison for stealing power from a train station to fuel his BTC mining activities. Xinghua was said to have stolen power 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, it was reported that employees of the neighborhood central station of the National Police in Rivne, Ukraine, were allegedly mining cryptocurrency at work for four months. A provincial authority reportedly appropriated a total of eight video GPUs, six power supply units, two hard drives, a motherboard, and a full PC.

Hot News

CNN Interviews The TRON Foundation Founder And CEO Justin Sun

Julia Chatterley and Justin Sun, talk about digital content sharing, buying BitTorrent, crypto investing and the grand thing that Justin Sun did just...

Winklevoss’ Ticket To Space Eventually Turns Out To Be An Expensive One

Tyler Winklevoss acquired an expensive ticket for an exclusive space journey. Winklevoss had bought the ticket from the company, way back in 2014,...

Ethereum Mining Has Been Stopped By The Antminer E3

Bitmain is the leader of the cryptocurrency mining ASIC industry. The Antminer E3 has stopped mining the Ethereum classic, and there is only...

UAE’s Mashreq Bank All Set To Adopt Blockchain Technology

The UAE’s oldest private bank Mashreq Bank sets out a new blockchain initiative for customer satisfaction and client security. The UAE government introduced...

Ethereum (ETH) Price Analysis: Bulls May Fade Away If ETH Continues Under $275

Since the starting of the month, ETH has been making failed attempts to cross the major mark of $300 If it continues to...

Coinbase Suffers EOS Network Delay, But Block validators See None

Coinbase is a global platform that enables users to buy, sell, transfer and store digital assets such as cryptocurrencies based on the U.S. ...

Winklevoss’ Ticket To Space Eventually Turns Out To Be An Expensive One

Tyler Winklevoss acquired an expensive ticket for an exclusive space journey. Winklevoss had bought the ticket from the company, way back in 2014,...

Ethereum Mining Has Been Stopped By The Antminer E3

Bitmain is the leader of the cryptocurrency mining ASIC industry. The Antminer E3 has stopped mining the Ethereum classic, and there is only...

UAE’s Mashreq Bank All Set To Adopt Blockchain Technology

The UAE’s oldest private bank Mashreq Bank sets out a new blockchain initiative for customer satisfaction and client security. The UAE government introduced...

Ethereum (ETH) Price Analysis: Bulls May Fade Away If ETH Continues Under $275

Since the starting of the month, ETH has been making failed attempts to cross the major mark of $300 If it continues to...

RELATED NEWS

CNN Interviews The TRON Foundation Founder And CEO Justin...

Julia Chatterley and Justin Sun, talk about digital content sharing, buying BitTorrent, crypto...

Winklevoss’ Ticket To Space Eventually Turns Out To Be...

Tyler Winklevoss acquired an expensive ticket for an exclusive space journey. Winklevoss had...

Ethereum Mining Has Been Stopped By The Antminer E3

Bitmain is the leader of the cryptocurrency mining ASIC industry. The Antminer E3...