11/10/19 05:10 UTC-4

Justice Department accuses miner of stealing computing power

MiningSingapore citizen accused of stealing computing power for mining
Singapore citizen accused of stealing computing power for mining

The US Attorney’s Office in the Western District of Washington has officially accused Ho Jun Jia, a Singaporean, of stealing computing power for cryptocurrency miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details

The miner is accused of fraud

According to the US Attorney’s Office, between October 2017 and February 2018, Ho conducted a “large-scale cryptocurrency mining operation.”

Ho is reported to have financed his business by using stolen identification data and credit card data to lease resources from multiple vendors to perform cryptocurrency (such as Bitcoin and ether) mining calculations.

The US Attorney’s Office also states:

“In the few months his scheme remained active, Ho consumed more than $5 million in unpaid cloud computing services with his mining operation and, for a brief period, was one of Amazon Web Services (AWS) largest consumers of data usage by volume.”

Singapore police took Ho Jun Jia into custody. This crime is currently investigated according to Singapore law.

Interesting in the section: The Maltese seized €2,000 due to a noisy mining-farm

  • Russian engineer Denis Baykov, who was arrested last year for using a high-performance work computer to produce BTC, has been fined $7,000.

See also: "Uzbek miners proposed a deal to the government"

#mining #cryptocurrency #power #department

Editor: Yuliya Soroka


05/08/19 06:16 UTC-4

The mined cryptocurrency can now be displayed on the Coinbase exchange

​NiceHash cryptocurrency mining service announced the opening of ways to transfer cryptocurrency directly to the Coinbase crypto-exchange. According to the information, now users of cloud mining will be able to exchange the received coins without using a personal wallet.

03/07/19 07:00 UTC-4

Argo Blockchain: mining profitability increased by 24%

​Yesterday, July 2, a mining company from Britain, Argo Blockchain, published a report for the second fiscal quarter of 2019. According to the report, the profitability from the acquisition of cryptocurrency increased by 24% in just one month.