Illegal Taiwanese mining network uncovered

Robert Hoogendoorn
Dec 28, 2018 · 1 min read

A Taiwanese bitcoin miner went to great lengths to optimize his mining profits. He mined $14.5 million worth of cryptocurrencies using $3.2 million of stolen electricity. The mining criminal had 17 illegal crypto farms hidden behind fake store fronts in Taiwan, according to news channel EBC.

The criminal would rent 17 stores all over three different municipalities in Taiwan. He’d build a fake store front, often mimicking an internet cafe or a doll store. He’d hire electricians to rewire the power supply so he could use electricity without the usage ever being registered by the electricity meters.

The illegal mining business was uncovered when Taiwan Power was investigating a faulty power supply in one of the fake stores. According to EBC this business has been going on since 2012. Electricity theft is quite common in China.

Originally published at NEDEROB.

Robert Hoogendoorn

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Content Optimization Expert & Copywriter. Learning about blockchain every day, sharing my knowledge and my passion with you.

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