More

    Former Facilities Worker Facing Arrest After Crypto Mining Illegally

    Former facilities worker Nadeam Nahas, who allegedly ran an illegal cryptocurrency mining operation in a Massachusetts school’s crawl space, is facing arrest after missing a scheduled court hearing. Nahas is accused of stealing nearly $18,000 worth of electricity to power 11 miners between April 28 and December 14, 2021. The charges against him include vandalizing a school and fraudulent use of electricity. A default warrant has been issued for his arrest.

    The illegal crypto mine was discovered by Cohasset’s facilities director in December 2021. The director noticed computers, wiring, and ductwork in the crawl space near the school’s boiler room. After a three-month investigation, Nahas was identified as a suspect.

    This case highlights the potential risks associated with cryptocurrency mining, which can be costly and require a significant amount of electricity. In this case, Nahas is alleged to have stolen electricity to run his operation, which is a criminal offense.

    Cryptocurrency mining involves solving complex mathematical problems to validate transactions and earn new coins as a reward. As the value of cryptocurrencies has increased, so has the demand for mining, leading to concerns about the environmental impact of the process.

    Mining requires a significant amount of energy, and some estimates suggest that it consumes more electricity than entire countries. In addition, the hardware used for mining can become quickly outdated, leading to a constant need for upgrades and replacement.

    The use of stolen electricity for cryptocurrency mining is not uncommon. In some cases, criminals have even set up large-scale mining operations in abandoned buildings or other hidden locations. The high cost of electricity required for mining makes it an attractive target for theft.

    However, such operations are illegal, and the consequences for those caught can be severe. In Nahas’s case, he is facing criminal charges for stealing electricity and vandalizing a school. The potential financial gain from crypto mining is not worth the risk of breaking the law and facing criminal charges.

    It is also worth noting that the legality of cryptocurrency mining varies by country and region. In some areas, mining is regulated and requires a license or permit, while in others, it may be illegal or restricted. It is important for those interested in mining to research the laws and regulations in their area to avoid running afoul of the law.

    Overall, the case of Nadeam Nahas and his alleged crypto mine hidden under a school highlights the risks and potential consequences of illegal cryptocurrency mining. While the lure of potential profits may be tempting, it is important to follow the law and obtain the necessary permissions and permits before engaging in any mining activities. The costs of non-compliance can be steep, both financially and legally.

    Stay in the Loop

    Get the daily email from Crypto Navigator that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    - Advertisement - spot_img

    You might also like...