Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv – Mining Bitcoin News

BTCC
Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv – Mining Bitcoin News
fiverr


The main Ukrainian law enforcement agency has smashed a facility for illegally mining cryptocurrencies in the Kharkiv region. Operators of crypto farms have been minting coins using large amounts of stolen electricity, threatening the energy supply of critical infrastructure, the agency said.

Illegal mining site found in war-torn Kharkiv region

Officials from the Security Service of Ukraine (SBU) have discovered and shut down an underground crypto mining center in the eastern region of Kharkiv, the scene of a military hostilities between Ukrainian forces and invading Russian forces.

The operation was carried out by the SBU’s cybersecurity unit in cooperation with the Ukrainian National Police and under the supervision of the Kyiv Khorosiv District Prosecutor’s Office.

According to a press release issued on Tuesday, cryptocurrency farms consume industrial amounts of unpaid electricity, worth hundreds of thousands of hryvnia (thousands of dollars).

Tokenmetrics

Ukrainian authorities said mining operations could cause severe disruptions to energy supplies to residential areas and critical infrastructure near the front lines.

Investigators revealed that several local residents installed the mining hardware in a rented warehouse near Ukraine’s second-largest city, Kharkiv. They connect miners to the grid without any authorization.

During the search, agents of the Ukrainian Security Service seized computers and specialized equipment, as well as other evidence of illegal activity.

Organizers of suspected illegal crypto mining operations will be notified as part of an ongoing pre-trial investigation. The case will then be reviewed in court.

Ukraine has become a regional leader in cryptocurrency adoption in recent years, and the Kyiv government has taken steps to legalize virtual asset trading. However, crypto mining needs further regulation as it remains a grey area.

Since last year, the SBU has been going after miners who tapped the country’s electricity network and shut down some crypto farms in various regions. Other illicit cryptocurrency-related activities have also been targeted. For example, some online cryptocurrency exchanges that allegedly sent money to Russian wallets were blocked last year.

tags in this story

conflict, crypto, crypto farm, crypto mining, cryptocurrency, cryptocurrency, electricity, frontline, illegal, kharkov, kharkov region, mining crypto miners, mining facility, SBU, security services, theft, ukraine, ukraine language, war

How do you think the war affects cryptocurrency mining in Ukraine? Share your thoughts on the topic in the comments section below.

Lubomir Tasev

Lubomir Tassev, a journalist from tech-savvy Eastern Europe, likes Hitchens’ famous quote: “Being a writer is who I am, not what I do.” Beyond crypto, blockchain and fintech, international politics and The economy is two other sources of inspiration.

Image credits: Shutterstock, Pixabay, Wiki Commons, SBU

Disclaimer: This article is for informational purposes only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.

More hot news

in case you missed it

Binance

Be the first to comment

Leave a Reply

Your email address will not be published.


*