Despite the gloomy cryptocurrency market outlook, bad actors are still interested in illegally amassing bitcoin (BTC) and other cryptoassets. In the latest development, a 22-year-old student has been arrested by the Indonesian police for illegally setting up a virtual currency mining operation with college computers, reported The Jakarta Post on February 14, 2019.
Cryptocurrency Mining Gone Wrong
Per sources close to the matter, a 22-year-old Indonesian resident has been arrested by the police for allegedly installing the HoneyMiner crypto mining software on 27 computers in the shared computer room of a college, in a bid to mine bitcoin (BTC) and monero (XMR).
For the uninitiated, the HoneyMiner software makes it easier for users to mine bitcoin and altcoins with their computers. Headquartered in New Jersey, HoneyMiner launched its free beta in June 2018, to allow crypto enthusiasts who cannot afford expensive bitcoin mining equipment to mint a vast array of digital assets.
Since its launch, HoneyMiner has seen more than 10,000 downloads worldwide.
The culprit allegedly set up the illicit mining operation in January 2019, running it for several days, though it is still unclear whether he made money from the activity or not.
Interestingly, the man in question reportedly joined the college in 2014 but got expelled by the school authorities after “failing to register.”However, even after his expulsion, the accused person continued to use the college’s facilities.
Local police arrested eventually arrested the culprit in downtown Ulsan on February 10, 2019, after reportedly pursuing him for trespassing reports. The police say the matter will be investigated further to determine whether the mining operation caused any damage to the school.
Illegal Crypto Mining Operation on the Rise
Despite the slump in the price of bitcoin and other distributed ledger technology (DLT) based virtual currencies, illegal crypto mining operations are steadily on the rise.
In June 2018, BTCManager informed of a research report released by RiskIQ, a digital threat management firm, which revealed that thousands of frequently visited websites across the globe had been used by bad actors to illegally mint cryptos without the consent of the site owners.
On February 9, 2019, BTCManager reported that German authorities had arrested six people for unauthorized crypto mining.