Largest crypto mining system in Ukraine closed due to electricity theft
Largest crypto mining system in Ukraine closed due to electricity theft
- The Ukrainian Security Service (SBU) has discovered a crypto mining system that steals electricity to operate its operation.
- Since commissioning, electricity has been stolen every month from 186,200 to $ 259,300.
The Ukrainian authorities have uncovered and closed the country's largest cryptocurrency mining system. According to reports, the Ukrainian Security Service (SBU) found an abandoned warehouse in the city of Winnyzja on the southern bug. A more precise consideration that the system once discovered an electricity company called JSC Vinnytsiablenergo.
Around 3,800 manipulated Sony PlayStation 4 consoles were discovered together with phones, laptops, 500 graphics cards and 50 processors. The operators allegedly used stolen electricity from the city to supply the devices for mining cryptocurrencies.
The authorities found that the plant operators had manipulated the electricity meter to prevent the actual reading of energy consumption. Since the company, electricity has been stolen every month of around 186,200 to $ 259,300. SBU announced that the action could have led to power shortage due to an increase in power consumption caused by the mining system. JSC Vinnytsiablenergo published an explanation to contradict the claim that it is behind the operation of the system and explained that there was no evidence of electricity theft. Our company has nothing to do with illegal activities. Cryptocurrency mining equipment has never been operated on the premises of our company. In many reports it was also mentioned that the illegal mining facility was operated by the residents of Kiev and Winnyzja. Ukraine's security service has reportedly initiated criminal proceedings for unauthorized use of water, electricity and thermal energy. Interestingly, the use of game consoles for mining from crypto is not popular, but also not completely unknown. A Youtuber identified as stacksmashing once modified its Gameboy to reduce Bitcoin. Ukraine has been very active in the fight against mining facilities in recent months that do not consume authorized energy. At the beginning of June, the Ukraine security service discovered a mining plant that was illegally connected to the power grid of the Dnipropetrovsk Oblast. The system had consumed electricity worth $ 70,000 in three months, which led to the seizure of 350 min platforms. About two weeks ago, another illegally operated crypto mining system was closed in the Tschernihiw Oblast. 150 ASICs were confiscated after it was found that electricity worth $ 110,000 was used within two months. Ukraine is considered one of the world's largest users of cryptocurrencies. However, no regulations for checking the use have yet been introduced. An updated draft law on virtual assets was presented by the Digital Transformation Committee, which, according to some government agencies, must be revised. connected : Stellar Lumens: SDF selected by the Ukrainian government to develop CBDC Ukraine takes action against illegal mining systems
Source: Crypto-news-flash.com
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