A Taiwanese man faces jail time for stealing $3 million in electricity

Police arrested a Taiwanese resident for allegedly stealing more than $3 million worth of electricity to mine bitcoin and Ethereum. According to a report from EBC Dongsen News, police arrested the man, called Yang, along with his accomplice.

The man is said to have set up doll shops and internet cafes which were storefronts for his power-siphoning operation. Yang is reported to have used at least 17 various business for his purposes, and it is claimed he had electricians rewire the stores so that his alleged theft was impossible to detect. He managed to mine over 100 million yuan (approximately $14.5 million) in cryptocurrencies using the stolen electricity. Yang was identified after the utility provider contacted the police concerned about the power supply irregularities.  

The post A Taiwanese man faces jail time for stealing $3 million in electricity appeared first on The Block.


A Taiwanese man faces jail time for stealing $3 million in electricity written by Carol Gaszcz @ https://www.theblockcrypto.com/tiny/a-taiwanese-man-faces-jail-time-for-stealing-3-million-in-electricity/ December 29, 2018 Carol Gaszcz

Comments are closed.