30 August 2026
Russian Police Close Down The Illegal Bitcoin Mining Farm
The police in Russia have tracked down the Bitcoin miners involved in stealing electricity worth $200,000 each month with an intention to mine cryptocurrency.
The Russian Interior Ministry gave a statement that a saint Peterburg suspect has been arrested with his nine other companions. According to the Interior Ministry, the fraudsters were able to install machines that connect mining equipment to the country’s electricity supply at eight different locations.
Russia’s National Guard has seized 1,500 pieces of mining equipment, 2 million rubles, smartphones for criminal activities and 100 altered electrical meters throughout 20 searches.
As per the statement, to conceal their mining machinery, miners used an abandoned building and residential properties situated in Lekoslovo, Vsevolozhsk, and Roshchino.
One of the executives in Russian Interior Ministry, Irina Volk stated that the mined cryptocurrencies have been sent to exchanges outside of Russia for converting them into cash.
The news came into focus after Cointelegraph reported about the two Russian citizens who were targeting computers at state organizations to illegally mining cryptocurrencies.
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