Friday, June 14, 2024

School Headmaster Fired For Stealing School Electricity To Mine Ethereum

A Chinese high school headmaster fired for deploying Ethereum mining machine in school for more than a year. He deployed Eight mining machine’s in school which increases the school electricity bill to US$2,120.

According to the report, the school headmaster Lei Hua started mining ethereum in his home starting 2017, which consumed 21 kilowatt-hours of electricity every day.

In order to save money, he shifted the mining machines to school and installed 7 other machines along with it, altogether these machine’s consume 168 kilowatt-hours of electricity every day.

School employees reported unusual high electricity consumption usage to Lei and he blamed overuse of air conditioners and heaters reads Chinese media report.

Lei started mining Etherum when it was trading at $226, in the month of January it peaked up to $1402 and currently now trading at $212.

school headmaster
Source ; Coindesk

Ethereum was launched on July 30, 2015. it uses Turing language, a new Ethereum is generated after every 14 seconds.

With Lei’s help, his school deputy headmaster also deployed one machine and started mining Etherum from last January.

Last February, Russian Scientists arrested for using All-Russian Research Institute of Experimental Physics supercomputers to mine bitcoins secretly. In another incident as 16 people, hacker group illegally mined cryptocurrency at Internet cafes.


Latest articles

Sleepy Pickle Exploit Let Attackers Exploit ML Models And Attack End-Users

Hackers are targeting, attacking, and exploiting ML models. They want to hack into these...

SolarWinds Serv-U Vulnerability Let Attackers Access sensitive files

SolarWinds released a security advisory for addressing a Directory Traversal vulnerability which allows a...

Smishing Triad Hackers Attacking Online Banking, E-Commerce AND Payment Systems Customers

Hackers often attack online banking platforms, e-commerce portals, and payment systems for illicit purposes.Resecurity...

Threat Actor Claiming Leak Of 5 Million Ecuador’s Citizen Database

A threat actor has claimed responsibility for leaking the personal data of 5 million...

Ascension Hack Caused By an Employee Who Downloaded a Malicious File

Ascension, a leading healthcare provider, has made significant strides in its investigation and recovery...

AWS Announced Malware Detection Tool For S3 Buckets

Amazon Web Services (AWS) has announced the general availability of Amazon GuardDuty Malware Protection...

Hackers Exploiting MS Office Editor Vulnerability to Deploy Keylogger

Researchers have identified a sophisticated cyberattack orchestrated by the notorious Kimsuky threat group.The...
Guru baran
Guru baran
Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

Free Webinar

API Vulnerability Scanning

71% of the internet traffic comes from APIs so APIs have become soft targets for hackers.Securing APIs is a simple workflow provided you find API specific vulnerabilities and protect them.In the upcoming webinar, join Vivek Gopalan, VP of Products at Indusface as he takes you through the fundamentals of API vulnerability scanning..
Key takeaways include:

  • Scan API endpoints for OWASP API Top 10 vulnerabilities
  • Perform API penetration testing for business logic vulnerabilities
  • Prioritize the most critical vulnerabilities with AcuRisQ
  • Workflow automation for this entire process

Related Articles