Qiwi CEO Reveals An Incident That Really Turned Things Around For Them

BTC Wires: Publicly traded Russian payment service provider, Qiwi’s CEO Sergey Solonin, recently shared a story that took a lot of crypto investors and enthusiasts by surprise. In a lecture delivered at the Moscow School of Communication, Solonin shared an insight from his past that was the root cause for his interest in bitcoin mining and cryptocurrency. RusBase, a Russian publication on technology and business elucidated more on how Qiwi’s landmark position in the industry was envisioned and established.

As the story goes, Solonin learned back in 2011 that his company had minted 500,000 bitcoin, of which he had no knowledge. Considering that at this time, cryptocurrency and Bitcoin had just started to spread, it is understandable how Solonin was far from any knowledge on the subject of Bitcoin, or Bitcoin mining for that matter. Apparently, Sergey acquired insights on night activities by his computers that were unaccounted for from his Chief of Security. Finally, three months of investigation resulted in a revelation that shocked the CEO.

Solonin learned that this Chief Technical Officer had minted about 500,000 Bitcoins in a span of three months, which amounted to $5 million back in 2011, and which is worth a lot more in today’s time. Upon approaching this unnamed employer for an explanation, he quit the company. It was post this event that Solonin shifted his focus towards Bitcoins and began working in that direction. The first step in that direction was coming up with a team comprising of top-notch developers and instructed them to make use of all existing computer terminals to mine bitcoins.

Despite being able to recover some data that was erased by the company’s former employee, they failed in recovering the bitcoins. From then till now, Qiwi has undergone a very hefty paradigm shift in terms of their position in the market. Solonin himself become an investor of cryptocurrency and even appointed more skilled professionals with the right aptitude to take the company forward. As of the present date, the company is a seller of mining equipments, contributing the ecosystem towards becoming more quick and efficient in its endeavours.