Ethereum [ETH] mining scam on the school campus; the principal is fired

The blockchain community has had a huge impact on society, in many areas, since its inception in the 2000s. However, it is still debatable on which of the two parties – positive or negative – has a larger footprint in the world. A real stressful operation that often hits environmentalists in the throat is crypto-mining, due to its high energy consumption.

According to recent reports in China's local news portals, it was discovered that Ethereum [ETH], the second largest currency of the index, caused many problems at the Hunan school. The principal, Lei Hua of Puman Middle School in Chenzhou, Hunan Province, was secretly fired in the ETH mining center.

Hua started the extraction of Ether last year, in June. The total cost of the mining settlement reached about $ 1,440. However, the cost of electricity consumed by the operation was high, which led Hua to manage the extraction process within the school campus. The miner used school resources such as electricity and free internet to extract the tokens successfully.

There were a total of nine machines that tended and ran out of campus power to almost reach a point where the operation could have caused a fire in the school, making the Internet connection strangely slow. The authority involved in the school infrastructure turned out to be suspicious and initiated a verification that led to the discovery of mining equipment.

The profits obtained from the cryptocurrency mines were confiscated by the authority concerned, as well as dissipating the culprit of the school.

This is not the first time that cryptocurrency has been placed under the shadow of corruption. Monero [XMR], which is the main currency for privacy at the time, has also had multiple cases of fraud, hacking, encryption and more.

Amazon, a high yield equity market and part of FANG [Facebook Amazon Netflix Google] He also became the victim of the Monroe Crypto-jacking scam in which the miners secretly managed Coinhive against the backdrop of multiple website portals to extract Monero illegally.

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Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.