“Free” Bitcoin: Hungarian Politician Caught Stealing Electricity to Mine BTC

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Sat, 10/17/2020 - 18:21
Alex Dovbnya
A Hungarian politician resigns after stealing electricity to mine Bitcoin
“Free” Bitcoin: Hungarian Politician Caught Stealing Electricity to Mine BTC
Cover image via stock.adobe.com
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Thomas Borka-Saxon, municipal representative of the Democratic Coalition (DK) in Budapest, Hungary, has been caught stealing the government’s electricity to mine Bitcoin right from his office, HVG reports.

The disgraced politician has already resigned and abruptly left the party due to outcry.

The talk of the town

Budapest has a two-tier administrative system, and it is divided into a total of 23 administrative districts.

The stealth Bitcoin mining operation became a hot topic in national news after police searched the building of Erzsébetváros (Elizabethtown), the seventh government district where Borka-Saxon was serving as a member of its representative body, and seized its mining equipment.  

Elizabethtown mayor Péter Niedermüller put the former member of his party on blast in a fiery Facebook post:

“A fellow party member… has severely disappointed me. Or maybe that’s not a strong enough word. He has betrayed me. The rule of law, the observance of moral principles applies to everyone. And to the members of my party in particular.”  

Niedermüller — the opposition candidate who was elected as the district’s mayor last year — believes that the incident has tainted his party’s reputation.

Hungary
Image by hungarytoday.hu

It is not clear how many “free” Bitcoins Borka-Saxon has managed to mine by leeching off his office’s electric power.  

Illegal crypto mining

Although perfectly legal in Hungary, Bitcoin mining requires plenty of electricity. The energy consumption of the whole network is now on par with Czech Republic.

Related Russian Bitcoin (BTC) Miners Caught Stealing $200,000 Worth of State Electricity Every Month
Related
Russian Bitcoin (BTC) Miners Caught Stealing $200,000 Worth of State Electricity Every Month

Many opportunists — from American students to Russian nuclear scientists — have been busted stealing electricity to mine precious coins for free.

As reported by U.Today, an Australian man was sentenced last month after mining Monero on government-owned supercomputers. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.