The Inside Story

The strong wind of Bitcoin operation blowing in the country has forced nuclear scientists to illegally engage in Bitcoin mining. According to reports, they found many advantages with using the company’s supercomputer for this operation looking at the number of coins it can mine within some few days. Unfortunately for them, the security officer on duty discovered their set up, reporting them to a higher authority. As it stands, they face the law for illegally using the company’s powerful computer to take advantage of the riches that have been bestowed on miners of the cryptocurrency.

In an attempt to keep this a top secret, scientists who worked in the All-Russian Research Institute of Experimental Physics (RFNC-VNIIEF) probably planned on this for quite a long time. However, they failed to realize the intensity of the company’s Security Service. An information we gathered says that early February, the arrested scientists attempted to connect the agency’s server to the internet. This was to ensure that the computers will efficiently mine some coins for them secretly. Bitcoin mining has been said to consume a huge amount of electricity.

The head of research institute press service, Tatyana Zalesskaya, confirmed to the media that the arrested workers tried to make use of the agency’s processing power of the company’s computers for cryptocurrency mining. He also added that the suspects will face charges in the law court.

This is not the first time such an attempt has been made in the company. In fact, Zalesskaya revealed that a number of former workers of the company had been sacked and sentenced for the same operation. The rise of the cryptocurrency price has forced people to engage in them either through investment or through mining.

Russia Love for the Asset

 

Russia is one of the few countries that make use of the cryptocurrency on a large scale. In 2017, it was reported that the president of the country met the creator of Ethereum despite of the news of Ethereum scanners. Within that same year, he announced that cryptocurrencies are used to pioneer terrorism. This seemed not to be enough, he later announced that the country will come out with its own cryptocurrency.

In a recent survey conducted, the Russians showed a great interest in the cryptocurrency. 49 percent of the respondents said that they would receive cryptocurrency as a gift. Out of this, a large portion of them specifically pointed at Bitcoin as a better gift. The survey also revealed that 73 percent of all cryptocurrency holders would like to increase their portfolios. This is a strong indication that bitcoin has gained grounds in Russia, urging workers of supercomputers to take advantage of the trending digital asset. Today, Russia is one of the countries recognized as a heaven to the crypto assets.

This is not the only instance when workers had tried to mine bitcoin through a company’s server. Nickolas Berthiaume who worked at the Board of the governor of the Federal Reserve as a communication analyst was also arrested in a similar count. He managed to install bitcoin mining software on one of the computers, and created a backdoor and ensured that he could access it with his home computer. The authorities detected a breach in security and conducted an investigation which fished out Berthiaume as a prime suspected.

Further Revelation

Alexander Ivanov, the founder, and CEO of wave said in relation to their survey that “Despite the fears of many experts about the formation of a bubble in the market of cryptocurrencies, Russians do not intend to reduce their investments in this type of asset. 73% of respondents noted that in the coming year they will increase their cryptocurrency investments.”

A research has confirmed that the Bitcoin price is associated with the increase in ransomware attacks. Currently, the bitcoin price is $8,800 and its market cap is estimated to be $49 billion. With the knowledge that the dip in the cryptocurrency price is an indication of time for crypto lovers to enter the market. With the great desire to possess them at this time, the crime associated with it has also increased. This has been a reason for the many regulations against its use affecting its current price. The number of Bitcoin left also plays a role in its price.Authorities are expected to take a quick action against the illegal Bitcoin miners in Russia.

Image from news.sky.com

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