By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Crypto > Brazil Military & Police Face ‘Crypto Mining Ban’
Crypto

Brazil Military & Police Face ‘Crypto Mining Ban’

News Room
Last updated: 2023/09/28 at 2:08 AM
By News Room
Share
3 Min Read
SHARE

The Brazilian state of Santa Catarina has barred public officials, including police and military officers, from mining crypto.

In an updated set of rules for public sector workers, the state wrote that public officials, including members of the armed forces and civil servants, should “refrain” from mining crypto when in working environments.

This move will make it a punishable offense to use Santa Catarina government WiFi networks and intranet connections to mine crypto.

The rules were compiled by the state’s police force, and note that networks will be “monitored” to ensure employees comply with the new rule.

Brazilian Police in ‘Crackdown’ on Illegal Public Sector Crypto Mining

Brazilian police have thus far been almost powerless to stop public sector employees using company equipment to mine crypto, with no laws in place to halt the practice.

In 2021, a Marília Municipal Water and Sewage Department employee was found running “several” mining programs on his work computer, using up high levels of CPU power.

The department brought a case against the man.

But the state-run firm was only able to suspend the employee, rather than remove him from his post.

With their new powers, however, Santa Catarina officers will be able to prosecute instances of illegal crypto mining at work.

There has been a rise in the number of international instances of public and private sector officials stealing company power to mine crypto in recent years.

Last year, South Korean police arrested a “major company” executive who reportedly mined USD 30,000 worth of Ethereum (ETH) by connecting mining rigs to a company facility.

He reportedly began mining at the facility in 2019 and used USD 3,500 worth of electricity to power the machines.

The rigs ran “24/7” and reportedly turned the facility into a “40°C furnace.”

The year before, a civil servant in Seoul’s biggest opera house was discovered mining ETH using the city-run institution’s power.

The man successfully connected his equipment in a little-used basement room underneath the center’s Calligraphic Art Museum.

Inspectors found two ETH mining rigs fitted with “sophisticated” graphics cards connected to the center’s power outlets.

Read the full article here

News Room September 28, 2023 September 28, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Google and Anthropic reportedly in cloud deal talks, Netflix falls after earnings miss

Watch full video on YouTube

Why Manhattan Condos Are Selling At A Loss

Watch full video on YouTube

Delaware high court reinstates Elon Musk’s $56bn Tesla pay package

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

How Ford’s bet on an electric ‘truck of the future’ led to a $19.5bn writedown

Ford chief executive Jim Farley declared his all-electric F-150 Lightning the “truck…

Which genius from history would have been the best investor?

With hedge fund founders peppering the Forbes list of billionaires, top traders…

- Advertisement -
Ad imageAd image

You Might Also Like

Crypto

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon

By News Room
Crypto

FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?

By News Room
Crypto

Mastercard Launches “Crypto Credential” To Replace Wallet Addresses With Usernames

By News Room
Crypto

Polygon Executive Pivots Roles To Developing ZK Proof Tech

By News Room
Crypto

Altcoin Interest Driving South Korean Crypto Craze – Report

By News Room
Crypto

Russian Central Bank Flags Sharp Rise in Crypto-related Activity

By News Room
Crypto

BitGo’s $100M Suit Against Galaxy Gets Green Light from Delaware Supreme Court

By News Room
Crypto

Here Are Your Top Crypto Gainers Today on DEXScreener

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?