Russian Hacker Alleged of Mining Bitcoin, Received Confine up to Five Years

In a recent news story in Russia, a 21-year-old Russian Hacker from the Siberian city of Kurgan is facing certain criminal charges of mining Bitcoin (BTC) through government-led servers and supposedly got almost five-year confinement as reported by Russia’s Federal Security Service on 16th October.

Based on the further investigation, the accused hacked public administration servers which are located in three Russian regions. The entire event that came into light when the Internal Security Division in the city of Yaroslavl identified the hacker’s effort in order to execute the entire activity in an illicit way.

Based on the valid sources, the hacker may expect to get up to five years prison if found guilty, as he is charged with tactical use of software that can neutralize the computer network defense out of self-interest.

According to the crypto news source – Cointelegraph stated in April 2018, South Korea arrested miners that supposedly rented out his factories and chicken farms in order to receive electricity at very low rates. The source further explains the perspective by giving an example that either stealing or mining, receiving electricity in an illicit way are needed to be in prison for certain terms.

Further speaking to the subject matter, the U.S. has already notified miners by its local authorities in New York to cease their activities once the residents file an official complaint to the police for the excess use of low cost of electricity by local miners.

In October 2018, a Chinese man was supposedly received confine for 3.5 years for stealing electricity from a train station in order to fuel his Bitcoin Mining facility. He was also fined to pay 100,000 yuan (around $14,500) for the crime he executed.

Shalin Soni

Shalin joined CryptoNewsZ as Associate Finance (Cryptocurrency Research & Analysis) in 2018 and has 10 years of collective experience to work on financial modeling and financial planning & analysis activities (fp&a) domains. He has worked with various organizations in India and added values by leveraging his skills and expertise. He has strong domain expertise in research & analysis, valuation, and fp&a!! You can also mail him at [email protected] to discuss anything related to his reports.

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