Two Bitcoin Farmers Stole $1.5M In Electricity In Bulgaria

Bulgarian authorities have arrested two males for illegally siphoning off greater than $1.5 million in electrical energy to function two crypto mining farms.

According to an Aug. 14 report from Bulgaria Today, two males have been detained in reference to the theft of $1.5 million in electrical energy used for mining Bitcoin (BTC) within the small city of Kyustendil.

Representatives from the Oblast Directorate of the Ministry of Interior Affairs (ODMVR) and CEZ Electro Bulgaria spoke at a information convention, stating that the 2 Bulgarian nationals from Sofia, aged 31 and 38, have been caught funneling energy to their two unlawful crypto mining farms for 3-6 months. However, proof means that the mining gear had been there for greater than a 12 months.

CEZ Deputy Director Philip Yordanov mentioned this was “the largest theft” of electrical energy the utilities agency had ever found. The quantity stolen was sufficient to energy the neighboring township for roughly a month.

The two males have been detained by police for 24 hours earlier than being launched to await trial.

Not distinctive to Europe

Unscrupulous crypto miners in lots of international locations have tried to siphon energy off the community as extra grow to be conscious of the profitability of tokens.

One of the most important thefts occurred in China in July 2019, when 22 suspects have been arrested after reportedly being concerned in an unlawful crypto mining farm utilizing $Three million in stolen electrical energy. Police confiscated 4,000 mining rigs at 9 completely different factories.

Russian authorities have additionally tried to crack down on Bitcoin miners stealing energy. In June, police arrested a 30-year-old miner accused of stealing almost $500,000 in electrical energy from the state energy community. Another suspect and his 9 alleged accomplices have been arrested in March in an identical incident involving the theft of $200,000 in electrical energy each month to mine crypto.

Two Bitcoin Farmers Stole $1.5M In Electricity In Bulgaria

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