Cryptocurrency [loss] $13,500

"Twitter user releases video showcasing mining factory with NVIDIA GeForce RTX 3070 Founder’s Edition GPUs sold on the 'back end'"

2021-12-15 [vendor] Crypto miner tweet [chain] ethereum
Primary Source ↗
Financial Loss $13,500 (13,500 USD)
Blockchain(s) Ethereum

Incident Details

Crypto miner Jaxson Davidson posted a video showing one of four buildings in his crypto mining farm, showing racks of thousands of GPUs — GPUs that gamers and other consumer buyers are finding painfully expensive, if available for sale at all. He said the GPUs were bought “under the table”, for an average price of $1,200 per unit, and is using the farm to mine Ethereum and Ravencoin. Davidson deleted his Twitter account following some pretty fierce backlash from gamers feeling the GPU shortage, as well as crypto skeptics who were shocked at the display of energy expenditure.

Total loss estimated at $13,500.

Technical Details

Vendor / Product
Crypto miner tweet

Timeline

  1. 2021-12-15 Breach occurred
  2. 2021-12-15 Publicly disclosed