Crypto Miners Led Dropbox To Ban Unlimited Storage Plan – Crypto News – Crypto News
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Crypto Miners Led Dropbox To Ban Unlimited Storage Plan – Crypto News

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3 years ago

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In a bizarre turn of events, cloud storage platform Dropbox complained that crypto miners were responsible for misuse of its unlimited storage space plan. The company said individuals from the crypto market were pooling storage space from its Advanced subscription to make way for their own use cases.

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Dropbox Reveals Crypto Miner Misuse

The company revealed that it found users pooling in cloud space to use for crypto mining and more particularly for Chia, a cryptocurrency with a market cap of $250 million. In a statement, Dropbox said the some of the offenders were also reselling the pooled spaces. “Unrelated individuals pooling storage for personal use cases, or even instances of reselling storage,” it said.

Interestingly, the company began to be suspicious of the misuse when some of these accounts were frequently using up thousands of times more storage compared to the genuine business customers. It said that a growing number of these suspicious “customers” were buying its Advanced subscriptions not to run a business or organization, but for use case like crypto mining related activity. Hence, the company decided to remove the unlimited plan:

“As a result, we are sunsetting the “as much space as you need” policy and transitioning to a metered model.”

The Chia network, which is a layer 1 blockchain, works on a unique consensus mechanism called proof-of-space-and-time

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Anvesh reports major crypto updates around regulation, lawsuits and trading trends. Published around 1,000 articles and counting on crypto and web 3.0. He is currently based in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com/BitcoinReddy

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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