Two Russian Entrepreneurs Were Caught Mining Bitcoin Illegally: See How!
Unfortunately, this is not the first case of electricity’s illegal use in order to mine crypto assets in Russia. Two businessmen have set up a Bitcoin mining center using stolen energy from the nearest source.
Two entrepreneurs based in Orenburg were caught by the Russian police for the inappropriate and unauthorized use of electricity, according to RIA56.ru. The center was installed in an abandoned factory in Orenburg, Russia.
Over 6,000 mining equipment were used to mine Bitcoin
Even if the mining activities aren’t illegal in Russia, according to the representative of the Ministry of Internal Affairs of the Russian Federation (MIA RF), the two contractors have made falsifications to not fully pay the energy bills. They have been found guilty of using improperly the electricity, operating a farm with a “productive capacity of about 8 million kWh“.
At the time of the investigation, the Russian police discovered over 6,000 special mining equipment connected to the nearest power source.
“As preliminary investigation concluded, high technology equipment was used to create cryptocurrency. The persons suspected of having committed the crime have been identified following the investigation carried out by the Orenburg Regional Office of the Ministry of Internal Affairs of Russia,” according to Irina Volk, the spokesperson of the Ministry of Internal Affairs of the Russian Federation.
Several reports from engineers made the police to investigate the case
The suspects were found guilty. Their case is going to be investigated closely and exposed to the punishment. The police have found about the Bitcoin Mining Farm through numerous reports received from engineers since March 2018, but no action has been taken at the time. They have identified the theft of an enormous energy capacity, which has led to an investigation of the case.
Details of material damage have not yet been disclosed.
You may be interested
US Rep to Hold Roundtable Discussion With Blockchain ExpertJoshua Tayo - September 26, 2018
Currently, the U.S does not have a solid regulatory structure that governs the action of blockchain related innovations. In order…
New ESMA Regulations May Boost Up Crypto Exchanges VolumesAnca Faget - September 26, 2018
Recent ESMA regulations have overhauled the retail trading industry. Although they probably haven’t been met with all the warmth especially…