Employee Makes Billions by Secretly Mining Bitcoin on Office Computers
August 1, 2018 3:00 pm
An office worker used office computers to secretly mine Bitcoin during off hours. Sergey Solonin, an ex-IT manager for Qiwi, the Russian firm was able to mine around 500,000 Bitcoins using surplus computer capacity when the offices were closed overnight.
Qiwi is a Russian payment service provider which is a publicly traded company. It seems that there is not much the company can do to get back the coins that were mined using office property.
According to reports, the company employees from the security department noticed that certain computers in Qiwi shops were working at high capacity during nighttime even though the workload was low.
It was discovered that Solonin, who was one of the department chiefs for the technical aspect of Qiwi’s business had installed a Bitcoin mining application on the company’s computers.
Local media reported that Solonin mined these coins back in 2011 and the story was revealed when the company failed to win a legal battle to acquire the mined Bitcoins from him.
Solonin managed to mine 500,000 Bitcoins worth $5,000,000 at the time. The current evaluation is $4,000,000,000.
When he was asked to return the Bitcoins to the company, Solonin quit his job. Qiwi tried to replicate Solonin’s success but were unable to do so due to the increase in mining complexity of Bitcoins.