The popular cryptocurrency, Bitcoin, has been taking the financial districts of the world by storm. Vladimir Ilyayev was so caught up in the Bitcoin craze that he used one of his work computers to mine for Bitcoins, which takes a serious amount of computer power. Ilyayev has been punished by his employer and lost four of his vacation days.
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Ilyayev had been working as a computer systems manager for the New York City Education Department for over a decade when he was caught and disciplined for his actions.
Mining for Bitcoins involves pulling together recent transactions to solve a complex puzzle. Whoever solves the puzzle first is then transitioned to another, and once all the puzzles are solved, you get a newly released Bitcoin as a reward, according to Investopedia.
According to a disposition regarding the situation, Ilyayev ran a Bitcoin mining system from “6:00 p.m. until 6:00 a.m. every night from March 19, 2014, until April 17, 2014.” Ilyayev would then monitor the process from his home.
It took the computer system manager “five to six” attempts to install the Bitcoin mining software until he bypassed the security the department uses.
The Department of Education fined the decade-long employee four vacation days that equaled an estimated $611. The DOE stated that since he used the computers for something to monetize or make funds from, he would be fined.
“The Board, after reviewing prior cases involving the misuse of City time and resources for profit-making activities, has decided not to impose any additional penalty,” they wrote in a statement.
According to Coindesk, this isn’t the first time a fellow computer guru used a DEO computer to mine for Bitcoins. In 2015, a network engineer was cleared of any wrongdoing after there was no evidence that he ever received a Bitcoin.
Bitcoins have been outlandishly popular and seem to be growing at an exponential rate. An average Bitcoin cost an estimated $2,777 and continues to climb. What began as a new cryptocurrency has evolved into something that now even restaurants and stores are accepting as payment.