Connect with us

Illegal Bitcoin Miners Stealing Electricity Arrested By Russian Police

News

Illegal Bitcoin Miners Stealing Electricity Arrested By Russian Police

In recent developments, illegal Bitcoin miners, who were stealing electricity worth $200,000 per month, were arrested by Russian police forces.

Incriminating Materials Seized

Crypto frauds, scams and illegal activities are nothing new to the promising sphere of crypto and blockchain. In 2019 itself, scammers and frauds were arrested in different countries— from India to Spain.

In this instance, according to a statement released by the Interior Ministry of Russia, ten alleged offenders, including a person from St Petersburg, have been arrested. The suspects were illegally accessing the country’s electricity supply at eight different locations with the help of high tech instruments.

The Russian National Guard has seized at least 1,500 mining equipment, 2 million roubles, smartphones with texts that indicate the complicity of those alleged, and more than a hundred tampered meters.

The police had found these items in a course of twenty searches as they were scattered in an abandoned building as well as at other residential properties located in Lekoslovo, Vsevolozhsk, and Roshchino.

The police have sent the recovered cryptocurrencies to locations outside Russia. Irina Volk, who is the official spokesperson of the Interior Ministry of Russia stated that they were sent to various exchanges in other countries, where they were meant to be converted into cash.

Not a First-of-its-Kind Case

Before this, in the United States, New York local authorities had requested a mining farm to stop its activity since the residents of a small town called Plattsburg had complained to the police about excess use of low-cost electricity by the mining center.

In yet another case, the local authorities stood up against a mining firm called ASIC for its interference with the 700 MHz band of T-Mobile. The facility was given a 20-day notice by the FCC to put a stop to their activities.

Continue Reading
You may also like...

I am a content writer with interests in life sciences and blockchain. I believe that blockchain has the potential to transform every aspect of human endeavor. I love surfing the internet, reading, learning new things, and trying new cuisines.

Comments

More in News

To Top