Main navigation

Massive Cryptocurrency Mining Farm Busted by Ukrainian Security Service

News
Thu, 07/08/2021 - 17:51
article image
Alex Dovbnya
Ukraine’s biggest illegal mining farm to date has been discovered by the country's main government security agency
Massive Cryptocurrency Mining Farm Busted by Ukrainian Security Service
Cover image via ssu.gov.ua
Read U.TODAY on
Google News

Ukraine's state security service announced on Thursday that it had discovered the country’s biggest illegal mining facility to date in the city of Vinnytsya.

It was stealing enough electricity to cause blackouts in multiple city areas. According to preliminary estimates, the amount of weekly damages could reach 7 million hryvnias (about $256,500).
 
The farm was located in one of the former warehouse buildings of a local energy company.

Related
Binance Now Blocked in China

According to the investigation, it was set up by miners from Kyiv and Vinnytsya.

They tempered with electricity meter data in order to conceal their illegal activities.      

3,800 gaming consoles, more than 500 GPUs, 50 CPUs as well as incriminatory documents relevant to electricity theft have all been confiscated.  

Ukraine
Image by ssu.gov.ua

The law enforcement officials opened criminal proceedings under article No. 188-1 of the Criminal Code of Ukraine.

As reported by U.Today, U.K. police officers accidentally discovered an illegal mining Bitcoin mining facility while raiding a suspected cannabis farm in May.  

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.