A Taiwanese man was arrested on charges of extracting millions of dollars of cryptodes using stolen power.
According to a relationship from the EBC Dongsen News on Wednesday, a man with the surname Yang is suspected of stealing electricity estimated at over NT $ 100 million ($ 3.25 million) through his various business premises to extract bitcoins and ether, collecting the same amount in mining profits.
It is said that Yang has exploited power in 17 stores in Taiwan for its illegal encryption operations. He would have rented an internet cafe or a toy store before, so he would have to hire electricians to redesign the wiring so that the stolen electricity was not measured, the report says.
Taiwan Power Company, the island's state-owned service provider, discovered operations after noticing an unstable power supply and initiated an investigation. Yang was suspected and subsequently arrested by the police.
Wang Zhicheng, deputy head of the fourth brigade of the Taiwan Criminal Investigation Bureau, said in the article:
"The group recruited electricians who managed to penetrate into sealed meters to add private lines to use electricity for free before they reach the meters".
Many of these cases of mining exploitation using stolen power have emerged recently, as the easy gains have proved too much of a temptation for some. Last month, two principals of a Chinese school entered the hot water afterwards theft electricity from the establishment to my ether.
Again in June, the police in the eastern Chinese province of Anhui arrested a man for alleged theft of a significant amount of energy for the extraction of bitcoins and ether, after the local company of the electric network has recorded a peak in the use of electricity. And, in April, there were six people arrested in the Tianjin region of China, they used 600 cryptocurrency miners to generate bitcoins with the power taken from the local electricity grid.
Image of the Taiwan police police through Shutterstock