Mining crypto

Bahrain Police Arrest Academic Computer Expert for Mining Crypto in Office | THE DAILY TRIBUNE

TDT | manama

The Daily Tribune – www.newsofbahrain.com

Mining crypto these days is akin to mining gold. Its skyrocketing value has made it one of the most exciting investments in the world. The downside, however, is that extracting them requires amazing amounts of electricity.

Reports indicate that the Bitcoin network uses roughly the same units of electricity as Washington State each year. But what if you could earn thousands of dinars mining crypto in the office, where your business pays for electricity? Tempting. Is not it ? But it could also land you in jail. The latest example comes from the land of two seas, aka Bahrain. Bahraini investigators say they arrested a man – a computer expert – for running a 28-machine mining facility directly from a university’s server room here. He is said to have run the university-based mining operation since 2019. How much profit he made from the operation has not yet been disclosed.

The University, however, said it suffered losses to the tune of BD 20,000, through unauthorized mining. In doing so, the suspect had also harmed other University operations on the same network. The suspect, a computer expert, initially operated his mining machines from his home, but then moved them to a room housing the university’s internet server in an effort to save money on the internet and on electricity. But the scheme failed when a University staff member who spotted and became suspicious of the machines in the server room reported it to the University.

Surprised by the unprecedented crime, the University reported the incident to the police. However, when questioned, the suspect initially denied having had any connection with the systems. However, he failed to defend his case against solid evidence.

The man confessed to installing the systems at the University as early as 2019 amid the coronavirus outbreak. University officials said they suffered a loss of electricity consumption of BD 20,000 during those years. The suspect will face criminal charges before the High Criminal Court.

What are the experts saying?

Experts believe that when people do such things, it goes beyond stealing electricity, as it could slow down the entire work of the facility. Additionally, installing crypto-mining software in systems not designed for such operations would create other potential vulnerabilities, including malware attacks. It would damage the health of the entire network and stop working properly.