Cyber Security

Baidu employee jailed for mining crypto using Baidu servers

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A staff at Baidu, China’s own search engine has been imprisoned for mining Monero cryptocurrency on more than 200 company servers.

According to a local media report, the employee sold the Monero for around 100,000 yuan ($14,300).

The employee was arrested when the company discovered the extra load on the systems. The person has been given three years imprisonment and a penalty of 11,000 Chinese yuan ($1,568).

The mining process of confirming transactions on a blockchain for compensation is increasing and power-intensive which results in high electricity practice. The cryptocurrency dealing is illegal in China while mining is not. The country accounts for about 66% of all mining transactions globally.

The employee connected software on 200 of Baidu’s servers between April and July 2018, allowing him to utilize the computing power to mine Monero.

He was working in the company’s research operations and preservation department since 2016. He made around RMB 100,000 from the mining process. According to reports, the resource use cost Baidu about RMB 27,000.

Bitcoin and cryptocurrency trading were banned in the country, with officials promising to break down on the activity.

China is considered to be one of the countries resembling launching its own central bank digital currency (CBDC), But the outbreak of coronavirus might delay these programs.

Priyanka R
Cyber Security Enthusiast, Security Blogger, Technical Editor, Author at Cyber Safe News

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