Bulgarian authorities have arrested two men for withdrawing more than $ 1.5 million of electricity to operate two cryptocurrency mining farms.
Two men have been arrested in the small town of Kyustendil in connection with the theft of $ 1.5 million of electricity used to mine Bitcoin (BTC) in the small town of Kyustendil, according to a report on August 14 from Bulgaria today.
Representatives of the Oblast Directorate of the Ministry of Interior (ODMVR) and CEZ Electro Bulgaria spoke at a press conference that two Bulgarian citizens of Sofia, aged 31 and 38, were arrested transporting electricity to their farm for illegal mining for a period of 3-6 months. However, there is evidence that mining machines have been around for more than a year.
CEZ Deputy Director Philip Yordanov said this was the “largest theft” of electricity the utility company had ever discovered. The stolen amount was enough to provide the neighboring community with electricity for about a month.
Police detained the two men for 24 hours before releasing them pending trial.
Not only in Europe
Unscrupulous miners in many countries tried to shut down the network to become more aware of the profitability of the tokens.
One of the biggest thefts occurred in China in July 2019 when 22 suspects were arrested after they were reportedly involved in an illegal mining farm with $ 3 million in stolen electricity. Police confiscated 4,000 miners from nine different factories.
Russian authorities have also tried to crack down on Bitcoin miners who steal power. In June, police arrested a 30-year-old miner accused of stealing nearly $ 500,000 in electricity from the state’s electricity grid. Another suspect and his nine alleged accomplices were arrested in March in a similar incident that stole $ 200,000 of electricity each month for cryptocurrency mining.