Sergey Solonin, CEO of Russian payment provider Qiwi said a former company programmer had used its payment terminals to mine Bitcoins (BTC) in 2011. The individual would have carried out the mining 500,000 Bitcoins.
500,000 BTC mined without Qiwi's knowledge
The identity of the Qiwi employee who took advantage of the company's materials was not disclosed. It would have mined 500,000 Bitcoins, about $ 5 million at that time and $ 4 billion today.
"I was especially impressed by the amount: in three months, he managed to mine 500,000 crypto-currencies worth $ 5 million. And now it's billions of dollars, " said Solonin adding:
"I thought, what a crazy thing, we're struggling to earn 3 cents on these terminals and such a gold mine has been hidden here. "After seeing an abnormal increase in the cost of electricity , Qiwi discovered the mining of his employee. He was busy with his mining activity after dark for a period of three months before being discovered. The individual refused to give up his fortune and resigned following this incident.
A failed attempt
Solonin claimed that after realizing that crypto-currency mining was apparently more beneficial than Qiwi terminals' initial activity, the company attempted to implement a similar service.However, lack of computing power terminals, she had to admit defeated compared to other miners Bitcoin network. Sharp competition in the digital currency industry has prevented Qiwi from entering the popular crypto-mining market.
The 500,000 BTCs of the former programmer of the Russian payment company would have been lost at some point, according to the Meduza report.In parallel, Anatoly Aksakov, the chairman of the Russian Committee for Financial Affairs of the Duma said that the local crypto-community of minors and virtual currency holders is obliged to submit to the current law on taxation .
According to an earlier report by Cointelegraph, the Russian State Duma will implement the cryptocurrency law in the autumn .
What do you think of extracting 500,000 Bitcoins without Qiwi's knowledge? Share your opinion in the comments section below.
Posted from my blog with SteemPress : https://infos.link/a-crypto-jacking-of-500000-bitcoins-was-perpetrated-by-a-former-qiwi-employee/