Bitcoin
Police Recover Stolen Bitcoin Mining Computers Worth $579,000
Los Angeles police have arrested a Canyon Country man on suspicion of possessing $579,000 worth of stolen bitcoin mining computers.
Bryan Thola, 26, was released on his own recognizance from a Van Nuys jail Friday morning, according to inmate records. He was arrested on suspicion of possession of stolen property, a felony.
Police found what appeared to be dozens of computer towers stacked in Thola’s cargo van and at a public storage facility.
Bitcoin mining computers are specialized devices that create new units of cryptocurrency by solving difficult mathematical puzzles using trial and error. The more computers you have, the faster you can create more bitcoins. Bitcoin miners ensure that each transaction is verified within minutes and publicly available, according to Fidelity Investments.
LAPD Lt. Michael McComas said the investigation was ongoing and that he could not release any other information about the case or the stolen computers. Police ask that anyone with information call the LAPD’s Commercial Crimes Division at (213) 486-5920.
This story originally appeared in Los Angeles Times.