Marcel ‘s passion for the world of cryptocurrencies and his comprehensive knowledge of blockchain technology make him an invaluable asset to our team. He stays updated on the latest trends, regulations, and emerging technologies in the crypto space, ensuring that our audience receives accurate and up-to-date information.
Latest posts by Marcel Bich (see all)
- New Bitcoin Exchange Hack - August 18, 2023
- Crypto Theft in New York – How a Moroccan Duped an American for $500,000 - August 17, 2023
- White Hacker Turns Black: $9M Crypto Heist - August 15, 2023
A recent report from the Telegram channel Baza has shed light on an intriguing incident in Moscow involving the unauthorized usage of the transformer substation on Ryazansky Prospekt for cryptocurrency mining. According to the channel, unknown individuals managed to connect their mining equipment to the substation as far back as autumn of the previous year and continued their operation until February 2023. Over the course of just a few months, these miners consumed a staggering 6.6 million kWh of electricity, amounting to a value of approximately 33.1 million rubles.
The discovery of abnormal electricity consumption raised alarm bells for Rosseti, the power company responsible for the substation. Realizing that something was amiss, Rosseti promptly reported the incident to the police. As a result, a criminal case has been initiated under Article 165 of the Criminal Code of the Russian Federation, which pertains to the infliction of property damage through deception or abuse of trust. However, despite these efforts, the culprits responsible for this illicit operation have managed to evade capture thus far, leaving authorities with little trace to follow.
The incident serves as a stark reminder of the vulnerabilities that can be exploited in the realm of cryptocurrency mining. By surreptitiously connecting their mining equipment to the unsuspecting substation, these individuals effectively pilfered an enormous amount of electricity for their own gains. As authorities continue their investigation, it remains to be seen whether they will be able to bring the perpetrators to justice and put an end to such audacious schemes.