100 million Taiwanese dollars (nearly $3.25 million) worth of electricity has been allegedly stolen by a Taiwanese man named Yang. He is suspected to have stolen power from seventeen different power stations in the northern region of Taiwan in order to power his mining rigs.
Yang Stole Over $3 Million Worth of Electric Power for His Mining Rigs
According to the police report, Yang rented internet cafes or toy stores located on first floors of buildings after which he employes the service of electricians to replace the wire connection in a way that it avoids the metering of power. The unmetered power is then channeled for use in his mining operation.
While giving his comment on the arrest, the Deputy Head of the 4th brigade of Taiwan’s Bureau, Wang Zhicheng said that: “The group recruited electricians who managed to break into the sealed meters in order to add in private lines to use electricity for free before that usage reaches the meters.”
Taiwan’s state-owned electricity provider, Taiwan Power Company reportedly discovered Yang after it got to know of the faulty power supply to a doll shop and then started an investigation.
It was discovered that Yang operated 17 illegal virtual currency mining sites in the areas of Xinbei, Taoyuan, and Hsinchu.
A Chinese virtual currency miner, Xinghua was was fined 100,000 Chinese Yuan (roughly $14,500) for tapping electricity from a factory at Kouquan Railway last year in order to power 50 cryptocurrency miners which generated almost 3.2 BTC.
Police in the Hanshan County in June 2018 arrested an individual for allegedly stealing 150,000 kilowatt-hours of electricity. The alleged criminal told the authorities that he had purchased the mining equipment about two months prior and that he had not been able to make any profit as at the time he was arrested.