In China Police caught Bitcoin Miners for Power Theft
Allegations of electricity theft have led to the arrest of bitcoin miners in two Chinese cities, according to reports.
According to the reports, Allegation of electricity theft has made the police to arrest Bitcoin miners in Chinese cities.
First, six individuals have been arrested in Tianjin since they allegedly used 600 cryptocurrency miners for generating bitcoin with power taken from the local power grid. The police insisted they avoided paying the resulting bills by bypassing the electricity meter.
The report says that an investigation was started after the local power company noticed spiking electricity consumption while identifying a significant difference from the measured current. That eventually drove to the breakdown of the 600 bitcoin miners along with eight high-powered fans.
The case has arrived meantime while China still plays a powerful role in bitcoin mining despite evidence it might move to depress the industry and marks the largest power theft in the country these years.
At the same time, another report from local news outlet says that two suspects have also been arrested by police in the city of Wuhan and also charged with electricity fine.