Australian TV network worker caught running Bitcoins server

An IT worker for one of Australia's TV networks has reportedly been caught installing a "Bitcoin miner" program on the company's servers. The Sydney Morning Herald reports that the unnamed worker used the powerful servers as a way to generate Bitcoins, the fairly notorious online currency that can be exchanged for cash, among other things. A spokesperson for the ABC network admitted that "there is a serious misconduct case underway in relation to this matter" but declined to comment further. The network also declined to comment if any other illicit programs were installed on the company's servers.

This is just the latest example of how unstable the Bitcoin currency can be. Created in 2009, Bitcoins's economy has surged up in the past several months. That is until a few days ago when the Mt Gox Bitcoin exchange suffered from a huge breach. A Bitcoin fund was stolen from the exchange which caused the entire Bitcoin market to collapse. At one point one Bitcoin was worth less than one cent. While the Bitcon market has recovered somewhat from the Mt Gox breach the Sydney Morning Herald said that the currency is still worth less than before the breach and crash happened.

Because Bitcoins are a fairly anonymous form of virtual currency they have become a favorite way to purchase items such as illegal drugs from some web sites. Other pornographic web sites also use Bitcoins for subscriptions. The article states that some criminals use the currency to help launder money.

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