Taiwan Resident Arrested For Illegal Mining In Amount Of $3 Million
Taiwan law enforcement agencies have imprisoned a state resident accused of stealing electricity worth several million dollars for crypto mining, Coindesk reports, referring to local media.
The resident of Taiwan with the surname Yang rented 17 stores. Then, he hired electricians to redesign the wiring in the premises so that bitcoins and ethers could be mined using electricity that would not be noticed by the suppliers. With the help of the stolen power, Yang managed to mine crypto worth $3.25 million.
The Taiwanese state electricity supply company discovered the leak when it paid attention to a power outage and set up its own investigation immediately. The main suspicion fell on Yang, who was soon arrested by the law enforcers.
The electricians hired by the tenant broke into the sealed meters and installed equipment that would not keep records of the electricity supplied, Wang Zhicheng, the deputy chief of the 4th brigade of the Taiwan Criminal Investigation Bureau, explained.
Cases of electricity theft for crypto mining occur quite often. In November 2018, leaders of a Chinese high school in Hunan Province were punished for mining ether in their own educational institution. A month earlier, a court’s decision was taken against the miner, who was accused of stealing electricity worth $15,000 while mining bitcoin.