Federal Reserve Staffer Fined for Mining Bitcoins at Work
A former employee of the Federal Reserve Board of Directors has fined $5,000 and put on probation after being caught mining bitcoins on a server owned by the US central bank. The Fed’s Office of the Inspector General said today that Nicholas Berthaume, who previously worked as a communications analyst for the board before being fired in light of the incident, had been placed on 12 months of probation after accepting a plea deal on 27th January. He plead guilty to one count of unlawful conversion of government property, a misdemeanor. Court documents show that Berthaume, who was indicted....
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According to various sources, a Federal Reserve employee was caught using the central bank’s internet server to mine bitcoin. Nicholas Berthaume, who worked for the Federal Reserve Board in Washington, was sentenced to a year of probation and fined $5,000 for using unauthorized Bitcoin software on a federal server. Fed Employee Mines Bitcoin Using the....
A former employee of the US central banking system, the Federal Reserve, was issued a fine of $5,000 and sentenced to 12 months’ probation for mining bitcoin on a Fed-owned server. Nicholas Berthaume was employed as a communications analyst with the Board of Governors of the Federal Reserve System. According to an announcement by the Fed’s Inspector’s Office yesterday, Berthaume installed unauthorized software on a Board server, enabling him to connect to an online bitcoin network to mine the cryptocurrency. Court documents have revealed that the software was installed between March 2012....
Senior White House Staffer Jamie Elizabeth Smith joined the Bitcoin mining company Bitfury as Global Chief of Communications, and will work to promote the Blockchain technology through the use of various media. Ms. Jamie Elizabeth Smith, former Senior White House Staffer, joined the largest Bitcoin mining company Bitfury in an effort to help mainstream adoption: She explains that her choice to change her career orientation comes after a well thought period of time and research, and depends on the trust that she puts in this groundbreaking technology: “My BitFury colleagues and I will be....
You can't just mine crypto for profit using other people's systems without them approving it. An Italian airport staffer allegedly took advantage of the computer systems at his place of work in order to mine Ethereum (ETH).Employed at an airport located in the Italian city of Lamezia Terme, the staffer allegedly put mining malware onto the airport's computer systems, said a news brief today from Italian media outlet Rai News. The employee is said to have set up multiple mining rigs on site, taking advantage of the airport's backend systems in the process. Authorities eventually caught the....
Hardly anyone ever expected to use the terms Federal Reserve and Bitcoin in the same sentence in a positive manner. As it turns out, the Fed has been quite open to Bitcoin and blockchain as of late, but there is still a lot of work to be done. On the first of June 2016, there was a fintech conference for central bankers at the Federal Reserve premises. With roughly 100 attendees from the central banking world, the topic eventually turned to Bitcoin and blockchain. While the crowd seemed very open to the idea, there is still a lack of understanding regarding the technology of blockchain.....