Home / REVIEWS / Secret cryptocurrency mining gets Chinese principal fired

Secret cryptocurrency mining gets Chinese principal fired

Cryptocurrency 2018

A school Ethereum-mining operation got a principal in trouble in China, according to reports.


S3studio / Getty Images

A Chinese principal lost his job after hidden cryptocurrency mining machines were found sucking up his school’s electricity.

The Ethereum-mining devices were discovered after teachers at the school in southeastern Hunan province got suspicious about a whirring noise they were hearing all day and night, the BBC reported Friday, citing local media.

Cryptocurrency mining becomes more lucrative as you add computational power, but that sucks up a lot of power. The operation resulted in the school getting hit with a 14,700 yuan ($2,100/£1,600/AU$2,900) electricity bill.

Lei Hua, the principal, allegedly installed eight mining machines in his school’s computer room between the summers of 2017 and 2018. He also apparently brought his vice principal in on the scheme, and a ninth machine was added in January.

This reportedly overloaded the school’s computer network and “interfered” with teaching, resulting Lei’s firing in October, an official warning for the vice principal and seizure of the profits of the operation by local authorities.


Now playing:
Watch this:

The world’s first crypto city



3:00

Back in March, a pair of Australian Bureau of Meteorology employees got in trouble over allegedly using government computers to mine cryptocurrency.

Apple and Google banned cryptocurrency mining on their devices over the summer.

CNET’s Holiday Gift Guide: The place to find the best tech gifts for 2018.

Best Black Friday 2018 deals: The best discounts we’ve found so far.


Source link

About ADMIN

Check Also

Sprint Black Friday 2018 deals on now: Free iPhone XR, $100 iPad, free $500 LG TV with LG V40

Sprint’s Black Friday deals are live now, bringing sizable discounts on iPhones and Samsung phones, …

Leave a Reply

Your email address will not be published. Required fields are marked *