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Nobody Knows Who Operated This Illegal Crypto Mining Farm in Ukraine

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Fri, 12/03/2021 - 16:01
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Alex Dovbnya
The operators of an underground mining farm in the Kyiv region are yet to be caught
Nobody Knows Who Operated This Illegal Crypto Mining Farm in Ukraine
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Ukrainian law enforcement has uncovered an illegal mining farm located in the Kyiv region that has stolen an estimated 3.5 million hryvnias (roughly $128,000), according to a statement issued by the prosecutor's office.

While the equipment has been confiscated, authorities have not managed to find out who was responsible for setting up the operation.

a mining farm
Image by kobl.gp.gov.ua/ua

The owners of the seized Bitcoin mining machines are facing eight years behind bars.

In order to remain undetected and reduce the level of electricity consumption, whoever operated the facility connected it directly to one of the local electrical substations.

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Their actions could have caused electricity shortages in residential buildings and factories, the prosecutor's office says.

In July, the Security Service of Ukraine uncovered what was initially thought to be the country's biggest underground mining farm that was chockful of PlayStation 4 consoles. However, it later turned out that the PS4s were actually being used as a FIFA bot farm.

In May, U.K. police discovered a cannabis factory instead of what appeared to be a crypto mining facility.

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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.