Site icon TechiAzi

Bitcoin mining scam: Police raid alleged cannabis farm but find banks of computers

One said after finding the “Bitcoin mine”: “It’s not what we were expecting. It had all the hallmarks of a cannabis cultivation.” West Midlands officers were tipped off about the farm because of the high usage of electricity thought to be powering lights and heat for the operation. A drone also detected abnormally high temperatures from the building.

The virtual currency mine was causing the surge and the officers seized 100 computers, used to earn Bitcoins for carrying out e-cash transactions. The electric supply had been bypassed at the building on Great Bridge industrial estate, Sandwell.

Bitcoin is a type of cryptocurrency made of a unique piece of software code and logged by records stored on computers.

It is virtually impossible to fake but users can make purchases without being identified.

Tesla car chief executive Elon Musk had been one of Bitcoins biggest fans, ordering his company to buy £1billion of the currency in February.

But last week he backtracked on usage, saying he was concerned about the environmental impact of the enormous power consumption of the computers used to create Bitcoin worldwide.

Sandwell Police Sergeant Jennifer Griffin, said: “My understanding is mining for cryptocurrency is not illegal but abstracting electricity from the mains supply to power it, is.

“No arrests were made.” The search was part of a County Lines crackdown which led to 84 arrests.

Stay connected with us on social media platform for instant update click here to join our  Twitter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechAzi is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – The content will be deleted within 24 hours.
Exit mobile version