Two Dutch Brothers Facing Charges for Bitcoin Mining with Stolen Power

Two brothers from the Netherlands are facing prison time for using stolen power to run a bitcoin mining operation. Prosecutors in the Netherlands say the computers were used to mind an estimated 200,00 Euros worth of bitcoin.

“Powerful computers were used to mine the electronic currency. They were found in a building in the port city of Rotterdam that belonged to one of the brothers, and was also used as a cannabis grow house,” Prosecutors said in a statement.

Both the equipment and the bitcoin mining computers were being powered by an illegal tap into electricity. All this was discovered in early 2014. The brother’s identities have not yet been released. They are both facing money-laundering charges as well.

Prosecutors asked the judges to impose a 15-month sentence on one half of the criminal brother outfit, and only five months on the other half. This is because one brother is also facing criminal charges relating to the grow house.

Related Post

The two are not yet scheduled for another court date, and both are being held separately from each other.

It would seem that the U.S. isn’t the only one’s battling bitcoin and money laundering related crimes. The rise of crypto-currencies is sure to bring on more and more of these bitcoin and crypto-currency offences.

Reports suspect that if and when bitcoin and crypto-currencies are regulated, the related crimes will not stop. The only thing to change, will be the addition of federally related charges, in addition to normal charges one would face in a case such as this.

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

reminesjoseph

I am 30 years old. I live in Rural Ohio with my Fiance, and our dog, Bruce.

Share
Published by
reminesjoseph

Recent Posts

Ethena Makes Strides Toward $1 Amid Whale Activity And Market Resurgence

Ethena, the emerging cryptocurrency, is making strides towards reclaiming the $1 trading mark, experiencing a…

2 hours ago

Bitcoin Hits $65.4k Amidst Whale Activity and Dormant Wallet Movement

Today marks another milestone for Bitcoin as its price surges to a high of $65.4k,…

2 hours ago

$FRIEND Token Skyrockets 70% Since Launch As Traders Capitalize On Early Opportunities

The crypto market is buzzing with excitement as $FRIEND, a newly launched token, experiences a…

3 hours ago

Ethereum Hits $3000 Mark As Whale Takes Profit Amidst Market Surge

Over the weekend, Ethereum, the second-largest cryptocurrency, surged past the $3000 mark, reaching a peak…

3 hours ago

BlockDAG’s Exciting New Crypto Payment Options | Predictions on Ethereum’s Value | XRP Whales Activity

BlockDAG Broadens Its Crypto Offerings with 10 New Deposit Options, Overshadows Ethereum's Price Forecast, &…

14 hours ago

BlockDAG’s X1 Mining App Beta Release Set for June 1st, Eclipses Recent Cosmos News and Positive Render Price Forecasts

The most recent updates in Cosmos cryptocurrency indicate a notable decline in its social engagement…

17 hours ago