A Massachusetts man faces charges after mining cryptocurrency in a school crawl space, according to a report from the Washington Post on Feb. 23.
According to the report, Nadeam Nahas, a municipal employee of Cohasset, MA, was indicted today on charges of electrical fraud and vandalism. He didn't make it to court, and the judge issued a writ by default, giving the police the power to arrest him.
The city's director of facilities, whose name is not mentioned in the article, discovered computers and miscellaneous equipment in a school crawl space in December 2021 and reported it to police. The city manager later determined that the configuration was a mining-cryptonet connected to the school's electrical system.
Nahas, deputy director of the city's installations, has been identified as the suspect. He is alleged to have resigned his position at the beginning of 2022.
The original article did not state which naha-mined cryptocurrency. However, Bitcoin is typically mined in both legitimate and illicit mining operations.
Illegal crypto-extraction operations are quite common because electricity costs largely offset the profits of Bitcoin mining. According to Visual Capitalist, it cost $35,404 to mine a single Bitcoin last year ?— more than the value of Bitcoin at that time. Illegal miners can boost their profits by leveraging a site that already pays for electricity.
Russia's business portal has been advising you about dozens of illegal mining incidents since 2017. Those responsible for these crimes have exploited cryptocurrencies in universities, psychiatric hospitals, government buildings and airports, among others.
While most of these incidents involve illegal electrical connections, part of them involve direct theft of mining equipment and other related crimes.