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Mining digital currencies in China, police confiscated 200 computers

Written By Hanny & Melissa on Monday, May 06, 2019 | Monday, May 06, 2019

https://www.economicfinancialpoliticalandhealth.com/2019/04/mining-digital-currencies-in-china.html
The Chinese government authorities managed to capture one of the men suspected of stealing large amounts of electric power for the clandestine miner cryptocurrency device.

Law enforcement in China's Anhui province, seized more than 200 computers used for bitcoin and ether mining, after the local electricity grid company reported an increase in electricity usage.

One of the suspects allegedly stole 150,000 KWH of electricity between April and May 2018 then, when the electricity company reported to the police about the theft. A Chinese citizen identified only by Ma's surname, after being arrested told police that he had a dream of earning money through mining digital currencies.

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He (Ma) bought hardware in April, but later found a daily electricity charge of more than 6,000 yuan ($ 921). According to Ma's statement at the time of arrest, the mining operation was not profitable.

Due to allegations of theft of electric power has caused the arrest of bitcoin miners in China before. In April 2018 there were at least two cases of bitcoin miners brought to court for allegedly stealing electricity.

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In another case, 6 suspects were arrested in Tianjin China. Police suspect the suspects used 600 bitcoin digital currency miners, with power taken from the local electricity network.

Xinhua news agency also said, cases of electric power theft that occurred in China, was the biggest case in recent years compared to decades before. (coindaily/ auth)

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