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September 23, 2020
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Russian police arrested a cryptocurrency miner | Blocksats

Russian police have arrested a 30-year-old cryptocurrency miner who is accused of stealing over $ 494,000 in electricity from the state power grid.

Russian police arrest a crypto miner

On June 9, police arrested a city resident Makhachkala in Russia, which allegedly founded an illegal cryptocurrency mine there. As part of it, he launched about 500 excavators, and these connected to the local power grid.

According to a statement from local authorities on June 6, a 30-year-old cryptocurrency miner caused illegal economic damage to the national power grid. These are reportedly worth over 34 million rubles (USD 494 000).

We also know that an anonymous miner rented the entire third floor in May in an uninhabited building in one of the city’s districts. There he established a mining farm for the illegal mining of Bitcoins (BTC) and altcoins. Police reported that he had connected to public power line cables.

518 excavators

During the raid on the mines, local authorities found as many as 518 excavators for digging cryptocurrencies.

Law enforcement agencies immediately initiated criminal proceedings against a suspected miner for causing property damage as a result of fraud and violation of public infrastructure.

The police did not provide further details about what, e.g. altcoins, the suspect kicked, or what profits generated by his operation in such a short period during which platforms for mining cryptocurrencies were operating.

This is not the first case of illegal cryptocurrency mines in Russia. Recently, the Russian police initiated criminal proceedings against the former head of the regional post office, who managed to extract cryptocurrencies through the power network of the office in Mineralnye Vody in the south of the country.

The media also reported on the operation carried out by the Russian authorities on March 27, which led to the capture of Bitcoin miners who stole electricity worth $ 200,000 each month.

This includes illegally built power plants, manipulated energy meters and underground farms digging BTC. This is, in a nutshell, the cryptocurrency mining market in Russia today. Crypto-miners could steal a total of almost 6.6 million dollars (450 million Russian rubles) using such infrastructure. This is due to the report of the state-owned energy company Rosseti.

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