Bitcoin Miners caught by Korean Police for Illegally using Cheap Factory Power
April 2, 2018 5:19 pm
Korean Police Arrested Bitcoin Miners for using Cheap Factory Power
Korean Police has arrested employees from thirteen companies for illegally utilizing less expensive electricity for mining cryptocurrencies at industrial complexes in South Korea.
The Gwangju Metropolitan Police Agency announced regarding the complaint, through alleging the violation of rules regarding factory use.
Companies looking up for mining operations in such systems are charged 10 percent lower electricity costs compared to companies in general areas, as well as lower rents.
According to the reports, companies would have installed 100-350 mining devices in their vicinities and had been mining cryptocurrencies since May 2017.
Six companies were placed in the Hanam Industrial Complex, while the Nano and Pyeongdong Industrial Complexes each saw three cases and one was uncovered in Jingok Industrial Complex.
This is not the first time that cryptocurrency miners are getting caught by illegally mining the coins using subsidized electricity in public or office areas in the country.