Crypto Market News

06/17 01:41

Illegal Cryptocurrency Mining Found in Russia as A

Illegal Cryptocurrency Mining Found in Russia as Authorities Prepare for New Punishments

Illegal cryptocurrency mining found in truck: Russian authorities have discovered a mobile cryptocurrency mining rig in a KAMAZ truck that is stealing high-voltage electricity.

Russia is cracking down on cryptocurrency theft: As illegal operations increase, Russia plans to increase penalties to 2 million rubles and confiscation of cryptocurrency.

On June 11, a KAMAZ truck was discovered in the Republic of Buryatia engaged in illegal cryptocurrency mining. The rig in the truck was connected to a 10-kilovolt power line without permission. This illegal activity comes as Russian authorities prepare to introduce harsher penalties.

Illegal Cryptocurrency Mining Detected – Everything You Need to Know

On Wednesday, Russian inspectors discovered 95 mining devices and a transformer substation capable of providing electricity to an entire village.  While officials were getting to the scene, two unidentified individuals fled the scene in an SUV without a trace.

This illegal crypto operation was discovered during a line inspection in the Pribaikalsky district, marking the sixth case of electricity theft related to cryptocurrency mining in Buryatia.

What actions did Russian authorities take?

Russian authorities present at the scene seized the mining rigs, and the equipment was confiscated during the prosecution of this activity. The authorities are taking important steps to eliminate illegal mining activities while promoting the legal route.

The analyst said:

"It will be cheapest to carry out this type of activity within the limits allocated [by law] in 2025 in the Republic of Khakassia.  In total, monthly consumption of 6,000 kWh in an apartment with an electric stove will cost 162 thousand rubles per year, and in a house with electric heating - 157 thousand rubles." 

Fine for illegal cryptocurrency mining in Russia 

Russian authorities are preparing new harsh penalties for illegal cryptocurrency mining. It includes fines of 100,000 to 2 million rubles (approximately from 1,272 to 25,456 US dollars). This fine applies to individual entrepreneurs, officials and corporations, while industrial violators have their mined cryptocurrency confiscated by the state. 

In addition, the authorities are also prosecuting cryptocurrency payments made outside the Central Bank's "sandbox" and imposing a fine of up to 1 million rubles (12,718 US dollars). 

 Final Thoughts

This illegal cryptocurrency in a KAMAZ truck is not the only discovery of the day, as on the same Wednesday, another unauthorized cryptocurrency mining operation was discovered in an abandoned building in Russia. The illegal farm in the building in Taksimo was connected to the power grid without permission and operated without a meter.  Illegal cryptocurrency mining and trading has cost the Russian government millions of rubles, prompting it to crack down.

#Post To Earn Bonus#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge

3Condividi