Industrial Bitcoin Mine Employee Disappears After $190k in Alleged Theft, Fraud
A man operating under an assumed name has been accused of stealing bitcoin and bitcoin mining equipment from a Florida-based industrial mining facility and defrauding investors on a popular bitcoin lending platform. The alleged perpetrator worked under the name Jon Simms, acting as both an independent bitcoin buyer and seller and a professional mining specialist for Digital Mining Investments. The scam targeted bitcoin lending site BTCJam and Digital Mining Investments' Tampa-based mine. The stolen items allegedly include 55 BTC (roughly $35,000 at press time) taken from BTCJam users,....
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The theft was first discovered in September and was not yet connected to the crypto exchange going into liquidation the previous year. A former employee of the now-defunct cryptocurrency exchange Cryptopia has pleaded guilty to the theft of roughly $172,000 in cryptocurrency he obtained by making a copy of users’ private keys.According to a Monday report from New Zealand news outlet Stuff, the unnamed Cryptopia employee pleaded guilty in Christchurch District Court to the theft of more than $1,000 and theft “by a person in a special relationship” — referring to cases when a person takes....
Joseph O’Connor indicted on a raft of wire fraud, computer hacking, money laundering and identify theft counts. Joseph O’Connor, known in some corners of the internet as PlugWalkJoe, was indicted on an array of charges relating to a May 2019 cryptocurrency exchange hack. During the attack, he is alleged to have absconded with digital assets valued at approximately $784,000.In the criminal scheme, authorities believe O'Connor utilized SIM swap attacks (an artifice of fraud where 2FA phone calls and text messages are rerouted to a device controlled by the scammer) on three separate....
A detailed exploration of a bitcoin mine in Dalian, a major city in the north-east of mainland China, has been published by VICE's technology title Motherboard. The facility is called the No. 1 Bitcoin Mine. It contains 3,000 miners and costs $80,000 a month for 1,250 kW of electricity to keep them running, according to the film. It's located in the Changcheng area, in the waterfront Lushunkou district. The mine appears to be cooled by huge industrial fans mounted on the walls of the building. According to Motherboard, a "persistent, deafening buzz" emanates from the fans in the hot summer....