Ukrainian Security Service (SBU) exposes illegal crypto mining farm

TL;DR Breakdown

  • SBU exposes the biggest illegal crypto mining farm in Ukraine thus far
  • The perpetrators have been charged in keeping with the Criminal Code of Ukraine
  • The struggle towards illegal miners continues to realize momentum.

Illegal crypto mining farm in Ukraine – SBU findings

The Ukrainian state safety service (SBU) introduced that it had unearthed the biggest illegal cryptocurrency mining facility in Ukraine, and in the identical vein, large-scale theft of electrical energy. 

In a report launched on Thursday, Jul 8, 2021, the illegal mining website was found in JSC Vinnytsiaoblenerho’s former premises and is claimed to be the most important thus far. The SBU revealed that the power-intensive exercise of the illegal cryptocurrency mining facility in Ukraine is responsible of the blackouts skilled in some areas in Vinnytsya. 

According to reviews, preliminary estimates have costed month-to-month energy losses inflicted by the mining facility at about 186,200 USD to 259,300 USD (5 to 7 million UAH).

The investigation additionally revealed that crypto miners from Vinnytsya and Kyiv arrange the illegal mining facility. They had tampered with the electrical energy metering items to hide their illegal acts.

The discoveries on the mining farm embrace draft paperwork on energy consumption, 50 CPUs, 3800 gaming consoles, over 500 GPUs, pen drives, cellphones, and notebooks – all of which have been seized. 

The SBU has commenced prison proceedings for the unauthorized use of electrical energy, water, and thermal power towards the operators of the mining facility, underneath the Ukrainian prison code (Article no. 188-1).

The struggle towards illegal crypto mining continues

Since the crypto mining crackdown in China started, the struggle has taken a number of dimensions, and several other international locations at the moment are paying extra consideration to the sector.

A number of weeks again, an illegal crypto mining farm was additionally found within the West Midlands area of England some weeks in the past by the UK authorities. According to a West Midlands police sergeant, Jennifer Griffin, the farm was linked to the nationwide grid and mined BTC with a number of Antminer S9s items.

She added that “the entire gear discovered on the illegal crypto mining farm has been confiscated and shall be seized completely underneath the UK Proceeds of Crime Act (POCA).”

Also, in Tehran, Iran, the nation’s largest crypto mining facility was uncovered by authorities, and over 7000 mining gear had been seized. The actions of the illegal farm had been stated to be consuming about 4 % of the full electrical energy distribution in Iran.

The Middle East nation has since joined China and the league of nations which have banned the mining of cryptocurrencies.

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About the Author: Daniel