State employee is arrested for mining at job

IT Manager is held pending trial and with a bail of $5,000
14 March 2018   2301

Today Florida local outlet reported an arrest of Matthew McDermott, an IT Manager  for Florida's Department of Citrus - a state government agency that administers citrus industry. Florida Department of Law Enforcement, according to Tampa Bay Times jailed the state employee for supposedly exploiting office computers to mine cryptocurrency.

Mr. McDermott reportedly was mining bitcoin and litecoin with the department's computers resources, and is charged with grand theft and official misconduct.

FDLE analyzed the utility bills October 2017 through January 2018 and discovered a sudden and significant increase by over 40% - another evidence of the prolific cryptocurrency mining. Moreover, the IT Manager also acquired 24 units of GPU using the office account with the overall charge resulting in approximately $22,000. As GPUs have much faster computing characteristics, that comes at a cost of power consumption - a parallel with the utilities bill surge.

This case follows news of last week reported investigation on another state - Louisiana: Bureau of Investigation had allegedly discovered hardware that could have been used for mining cryptocurrency. In 2017 two similar cases were sighted: Federal Reserve's Office of the Inspector General and New York's Department of Education

BNC to Monitor BTC Community's Mood

The system called Twitter Sentiment analyzes over 34M BTC-related Twitter posts each week, using AI to track the mood of the community
22 January 2020   131

Blockchain-based New Zealand-based research firm Brave New Coin (BNC) has unveiled a new system for measuring the mood of the Bitcoin community based on Twitter messages.

According to BNC, the new Twitter Sentiment rating system analyzes over 34 million BTC-related Twitter posts each week. The company uses artificial intelligence (AI) algorithms that look for records containing the words bitcoin, $ BTC and BTC and others.

BNC notes that user sentiment continues to be a “significant” factor in the price and dynamics of digital assets, and a new technique has been developed to track these sentiments. According to the BNC, it took 18 months to launch the Bitcoin Twitter Sentiment. The data obtained is divided into seven categories - Opinion, Technical Information, Inside the Network, Advertising, Bots, Macros and Hacking.

For the week ending January 17, the most common entries were in the Opinion category - their number was 30.42% of all data received. In second place was the category Technical Information, and in third inside the network (includes information on mining and hashrate).

BNC spokeswoman Pierre Ansaldi said that during the first quarter of this year, the company will also launch community sentiment analysis tools for other crypto assets.