Taiwanese Man Arrested For Illicit Mining Of Cryptocurrencies.

Taiwanese Man Arrested For Illicit Mining Of Cryptocurrencies.

2018-12-29 | Robin Williams

Taiwanese Man Arrested For Illicit Mining Of Cryptocurrencies.

In line with a recent 'report' from EBC Dongsen News, a person with the surname ‘Yang’ is suspected of stealing electricity valued at over $3.25 Mln via his several business premises to mine Bitcoin [BTC] and Ethereum [ETH], reaping round the same amount in mining profits.

Yang reportedly broached the power supply at around seventeen stores in Taiwan for his illicit crypto mining operations. He used to 1st rent an internet cafe or a toy store, then hired electricians to revamp the wiring so that the stolen electricity wouldn't be metered, the report alleges.

Taiwan power service provider, the island’s state-owned utility provider, 1st discovered the operations once noticing an unstable power supply and launching an investigation. Yang  was suspected and lately arrested by the police.

The deputy head of the fourth brigade of Taiwan’s Criminal Investigation Bureau ‘Wang Zhicheng,’ added that:

“The group recruited electricians who managed to interrupt into the sealed meters so as to add in personal lines to use electricity for free before that usage reaches the meters.”

Several such cases of mining using stolen power have emerged recently, as simple gains have proven too excessive amount of a 'temptation' for a few. Last month, 2 principals at a Chinese school were caught while stealing electricity from the institutions to mine Ethereum [ETH].

Even earlier in June, Chinese province police of Anhui arrested an individual for allegedly stealing huge amount of power for Bitcoin [BTC] and Ethereum [ETH] mining, once the native power grid company reported a spike in electricity use. And, in April, six people were arrested in China’s Tianjin region over claims they used 600 cryptocurrency miners to mine Bitcoin [BTC] with power stolen from the native power grid.

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