Cryptocurrency: an underground mining warehouse

 

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mining Cryptocurrency is a very energy intensive operation because of the significant computing power required. 

To make their operation more profitable, criminals in Ukraine set up an underground mining farm that stole electricity. 

It was the Security Service of Ukraine (SBU) that discovered the case in the town of Vinnytsia, located 200 km from the Ukrainian capital Kiev. 

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In total, the SBU took no less than 3,800 consoles PlayStation 4 , 500 graphics and 50 processors as well as computer laptops, phones and USB sticks. 

Those responsible are being prosecuted for “ theft of water, electricity and thermal energy  ”. The criminals used tampered meters to avoid having to pay the electricity bill. 

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Consoles rarely used for cryptocurrency mining

The SBU estimates that the warehouse consumed between 5 and 7 million Ukrainian hryvnias (154,000 to 216,000 euros) of electricity per month. " Such illegal activity could create power surges and leave people without power, " the security service said.

The images of the warehouse, filled with racks of game consoles , are surprising, especially since the PlayStation 4 is only rarely used for cryptocurrency mining . 

Any device can be hijacked for this operation, but the PS4 is generally not considered profitable. 

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However, this criterion should not be taken into account since the crooks did not have to worry about their electricity consumption 

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