Germany: Suspects Arrested for Stealing Electricity in Crypto Mining Operation

February 7, 2019
117 Views

German police have reportedly arrested five men and one woman for allegedly stealing electricity for a crypto mining farm.

In the German city of Klingenthal, Saxony, police have arrested a group of suspects for stealing electricity to operate a cryptocurrency mining farm, Cointelegraph auf Deutsch reports Feb. 6.

Police officers reportedly tracked down a system of 49 computers operating in the premises of former electrical services company PGH Elektro. Since at least 2017, the mining farm has reportedly consumed as much electricity as 30 households, with the damage for the affected electricity supplier estimated to around 220,000 euros ($250,053).

Per local news site FreiePresse, 30 of the 49 computers were equipped with special cryptocurrency mining hardware, with a total of 80 graphics processing units (GPUs) installed. During the raid, the police reportedly arrested five men and one woman for stealing electricity to operate the cryptocurrency mining activity.

In December, a Taiwanese man suspected of stealing electricity worth over $3 million to mine Bitcoin (BTC) and Ethereum (ETH) was arrested. The suspect was accused of allegedly stealing the electricity to mine cryptocurrencies worth over 100 million yuan ($14.5 million). Yang reportedly hired 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 sentenced to three and a half years in jail for stealing power from a train station to fuel his BTC mining operations. Xinghua was said to have stolen electricity 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, Cointelegraph reported that employees of the local headquarters of the National Police in Rivne, Ukraine, were allegedly mining cryptocurrency at work for four months. A regional bureau investigator reportedly confiscated a total of eight video GPUs, six power supply units, two hard drives, a motherboard, and a full computer system unit.

You may be interested

Blockfi Launches High-Interest Crypto Lending Program in India
Bitcoin
13 views
Bitcoin
13 views

Blockfi Launches High-Interest Crypto Lending Program in India

btcethereumadmin - April 25, 2019

US-based Blockfi has expanded into India, offering a high rate on its interest-bearing account for two cryptocurrencies. News.Bitcoin.com talked to…

How to Use Bitcoin.com’s New Point-of-Sale Solution — Bitcoin Cash Merchant
Crypto News
8 views
Crypto News
8 views

How to Use Bitcoin.com’s New Point-of-Sale Solution — Bitcoin Cash Merchant

btcethereumadmin - April 25, 2019

During the third week of April, Bitcoin.com released a new point-of-sale (PoS) service called Bitcoin Cash Merchant for Android operating…

Binance Singapore Launches But Offers Just One Trading Pair, Report
Bitcoin
46 views
Bitcoin
46 views

Binance Singapore Launches But Offers Just One Trading Pair, Report

btcethereumadmin - April 25, 2019

Users of Binance’s new Singapore platform are reportedly only able to purchase bitcoin using Singapore dollars during the “soft launch.”…

Leave a Comment

Your email address will not be published.