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(Yicai Global) Feb. 26 -- A Chinese court has jailed three hackers for three to four years each for running Trojan malware that secretly mines cryptocurrency on 8,000 computers in the country.
A Hangzhou court also fined the perpetrators between CNY12,000 (USD1,795) each, state-backed news outlet The Paper reported yesterday.
Cryptomining involves solving complex problems to verify digital transactions using computer hardware and processing power. Miners are able to create digital currency themselves through the process or can receive cryptocurrency as repayment for the processing power used.
The case emerged after Hangzhou public security received a report from an internet café last July that its electricity fees had soared in the preceding months and the owner suspected that the above-mentioned malware was to blame.
One of the defendants surnamed Wang ran a network technology firm providing information system maintenance for over 100 internet cafes in Hangzhou. He worked with employees surnamed Liu and Li to make money via cloud computing platforms which used more than 8,000 client computers to mine cryptocurrency without their knowledge since the end of 2017.
The trio gained illegal profits totaling CNY170,000, according to the investigation. Wang was sentenced to four years and fined CNY20,000. Liu and Li were each sentenced to three years and received fines of CNY15,000 and CNY12,000, respectively.
Editor: William Clegg