Cryptocurrency ‘mining operation’ discovered under Cohasset High School believed to be run by ex-city employee

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Cryptocurrency ‘mining operation’ discovered under Cohasset High School believed to be run by ex-town emp

Cryptocurrency ‘mining operation’ discovered under Cohasset High School believed to be run by ex-town emp 02:25

COHASSET – A former city employee is accused of running a “cryptocurrency mining operation” out of Cohasset High School. Former Cohasset deputy facilities manager Nadeam Nahas, 39, was due to stand trial Thursday in Quincy District Court but never showed up, forcing the judge to issue a warrant for his arrest.

Cohasset police say another city employee discovered the mining facility in a “remote crawl space under the school” in December 2021. He saw electrical wires and several computers “that appeared out of place,” police said.

The operation illegally used power from the school’s electrical system, police determined after consulting with IT professionals. Coast Guard and Homeland Security investigators helped safely remove the mining equipment and determine where it came from.

The equipment used in the alleged cryptocurrency mining operation and the Cohasset crawl space. Cohasset Gendarmerie

“He was effectively creating money,” said Larry Glazer, crypto expert and managing partner at Mayflower Advisors in Boston.

Glazer said the suspect was likely using the crawl space operation to create his own money at taxpayer expense.

“It’s something that can’t be done effectively back home in New England because the cost of electricity is so prohibitive,” he said. “You had an employee who was effectively stealing community power from ratepayers and the city.”

After a three-month investigation, police charged Nahas with fraudulent use of electricity and vandalism of the school. Nahas resigned from his post in early 2022, police said.

Cohasset Public Schools told WBZ-TV in a statement “we have been cooperating to assist Cohasset Police throughout the investigation,” but had no further comment.

As CBS News explains, crypto is a digital currency that can be manufactured or “mined” using specialized computer processors running on large amounts of electricity.

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