Korea Food Research Institute Employee Caught Mining Cryptocurrency with Institutional Funds
CryptoNewsTerminal Staff01 Sep, 2024
Korea Food Research Institute Employee Caught Mining Cryptocurrency with Institutional Funds
According to News1, an employee of the Korea Food Research Institute was caught mining cryptocurrency with institutional assets during an internal asset investigation. The employee, identified as A, set up two cryptocurrency mining servers in the VR room warehouse using 12 GPUs purchased by the institution. The mining was conducted by connecting USBs with relevant software to the servers. Analysis of the USBs revealed that the software was installed in April 2022 and was used to mine the NEXA coin from February 27, 2023, to September 14, 2023. The audit committee demanded that the Food Research Institute impose a severe penalty (dismissal) on A and take measures to recover the damages. It also recommended that the institution review the operation of network separation for research security purposes.
