Bitcoin Miners caught by Korean Police for Illegally using Cheap Factory Power


April 2, 2018 5:19 pm

Bitcoin Miners caught by Korean Police for Illegally using Cheap Factory Power | Coindelite News
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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.

According to the reports, the illegal activities were revealed in four various complexes in the country’s southwestern city of Gwangju.

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.

Recently, Tesla had faced cryptocurrency mining malware attack. Coindelite recently reported that UK and U.S Government websites are infected with the Crypto-Mining Malware.