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HomeSecurityCrypto Mining Scheme Uncovered: Man Arrested for Possessing Stolen Computers Worth $579,000

Crypto Mining Scheme Uncovered: Man Arrested for Possessing Stolen Computers Worth $579,000

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A 26-year-old man from Canyon Country, California has been arrested and charged with receiving stolen property after police discovered hundreds of thousands of dollars worth of stolen computers being used to mine cryptocurrency.

Bryan Thola was taken into custody on Thursday after authorities found the stolen computers in a cargo van and a public storage unit. The computers, valued at $579,000, were being used to mine bitcoin, according to the Los Angeles Police Department.

The investigation began when police received a tip about the stolen computers, which were allegedly taken from a business in the San Fernando Valley. After tracking down the cargo van and storage unit, officers found the stolen computers and arrested Thola.

Thola was booked into the Van Nuys Jail, but was later released on his own recognizance. No court date information was available at the time of the report.

The arrest highlights the growing concern over the use of stolen computers and other equipment for cryptocurrency mining. As the value of cryptocurrencies like bitcoin continues to rise, the demand for powerful computers to mine them has increased, making them a lucrative target for thieves.

The Los Angeles Police Department is urging anyone with information about the stolen computers or Thola’s activities to come forward. The investigation is ongoing, and it is unclear how the stolen computers were being used to mine cryptocurrency or how much profit was being generated.

The arrest is a reminder of the importance of securing valuable equipment and being vigilant against theft and fraud in the cryptocurrency space.

Source: Crypto Mining News - Bing

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