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U.S. authorities charge school staff over illegal crypto mining operation

The United States Department of Justice has filed charges against two senior staff members of New Jersey’s Patterson Joint Unified School District for allegedly running a crypto mining farm.  In a recent statement, The U.S. Department of Justice (DOJ) asserted that former Assistant Superintendent and Chief Business Officer of Patterson Joint Unified School District, Jeffrey Menge, orchestrated embezzlement schemes alongside the school district’s IT Director, Eric Drabert, from 2018 to 2022. Drabert collaborated in running a crypto mining farm, using school district property and electricity. The mined crypto currency, between $1 million and $1.5 million, was transferred to their personal wallets. However, the statement failed to specify the number of school s within the district involved in the crypto mining operation , despite the district encompassing 10 school s catering to approximately 6,200 students. You might also like: Kyrgyzstan witnesses major boost...

German police confiscate $2.1b in Bitcoin from illegal file sharing

German authorities have confiscated approximately 50,000 Bitcoins, valued at around $2.1 billion. The action is part of an extensive investigation targeting an online file-sharing service deemed illegal by the authorities. It represents the most substantial quantity of Bitcoin ever secured by German law enforcement. The operation was collaborative, involving the Saxony state prosecutors, Germany’s Federal Criminal Police Office, and the U.S. Federal Bureau of Investigation. You might also like: Global NFT market sees a 22% dip in sales, yet Trump NFTs continue to soar The investigation has focused on two individuals believed to have amassed this vast amount of Bitcoin (BTC) through profits generated by a German-based file-sharing website, which ceased operations in 2013. According to the prosecutors, one of the suspects transferred these digital assets into a wallet controlled by the federal police of Germany. Bitcoin has been experiencing a consecutive monthly rise, ma...