Suspected Electricity Thief Arrested After Mining $3 Million in Bitcoin, Ether

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A man in Taiwan has been arrested over claims he mined millions of dollars’-worth of cryptos using stolen power.

According to a report from EBC Dongsen News on Wednesday, a man with the surname Yang is suspected of stealing electricity valued at over NT$100 million ($3.25 million) via his various business premises to mine bitcoin and ether, reaping around the same amount in mining profits.

Yang reportedly tapped the power supply at 17 stores in Taiwan for his illicit crypto mining operations. He would first rent an internet cafe or a toy store, then hire electricians to redesign the wiring so that the stolen electricity would not be metered, the report alleges.

Taiwan Power Company, the island’s state-owned utility provider, first discovered the

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