The Principal of a school in China has been fired off from the post after found involved in a crypto scam where he was using the electricity of the school to mine Ethereum.
As per the reports of South China Morning Post, Lei Hua, who is the Principal of the Puman Middle School, Chenzhou was stealing the electricity of the school to power his Ethereum mining machine.
Last year, in June, he started the mining operations from home where his mining machine which is worth 10,000 yuan, consumed more than 21 kilowatt-hours power per day. So, in order to save his money from paying the bill, he used a way to relocate the machine to the school and cleverly saved his a lot of bucks.
According to the reports, he managed to fool everyone for 12 months, and when asked about such high bills, he cleverly gave a reason that school’s air conditioners (ACs) and heaters are consuming the power.
As the whole scam was going unnoticed, the deputy headmaster of the school, like a badass person, started using the machine by purchasing one from Lei and was mining Ethereum using the same power supply of the school.
How was it all disclosed?
The whole operation came to notice when other teachers started complaining about the excess noise of the computers that were coming at night and was slowing the internet speed. There is no institution while allows their faculty to use their facilities to mine any cryptocurrency, but there are people who don’t resist from trying.
In October, Lei was fired from his post, whereas the deputy headmaster was given a warning. The money that was made from the mining scam has been seized by the local authority. However, the amount was not disclosed clearly.
In March, an employee of Florida’s Department of Citrus was arrested for using the official computers to illegally mine cryptocurrency. In the same month, a group of staffers was under investigation by Louisiana’s attorney general for the same offence.
Last month, an ex-employee of the Federal Reserve Board of Directors was penalized with 5000 USD and put under trail after found guilty in the BTC mining on a server of United States central bank.