Authorities In Ukraine Have Seized An Illegal Cryptocurrency Mining Operation
Currently, illegal crypto mining activities responsible for the loss of electricity worth thousands of euros in eastern Ukraine which has been a war zone have been seized.
In a joint operation between the National Police, Security Service of Ukraine (SBU), and the Office of the Prosecutor in Holosiiv District, Kyiv, rows of hardware used for crypto mining were found loaded up with power grid which could cause substantial disruptions to the distribution of electricity to hospitals, homes and other major infrastructure needed on the frontlines.
In an official press release filed by the authorities, different evidence supporting the illegal activity was retrieved from a rented warehouse in Kharkiv, which is the second largest city in Ukraine. Among the evidence are computers and other crypto-mining specialized equipment.
The authorities made it known that they will be in contact with the suspected miners during their pre-trial investigation before they present the case to court.
A Similar Bust in Vinnytsia
Just about last year, the Security Service of Ukraine has a similar raid on a particular warehouse in the city of Vinnytsia, which is about 300 km southwest of the capital, Kyiv.
After the raid, the SBU claimed they have uncovered what seems to be the largest crypto mining setup ever in the country. Among the equipment retrieved from the warehouse are graphic cards and over 5,000 PlayStation gaming consoles.
However, not so long after the raid, the authorities revealed that the machines discovered in the raid are not in any way being used for [illegal] crypto mining. After their investigation, the SBU discovered that the equipment and machines were owned by a tech firm from the United Arab Emirates called MMI Engineering, which is using the power rigs to train AI for video games.
Crypto Mining might not be the Best for Ukraine now, but Crypto Donations are
Even though crypto mining activities are considered detrimental to the performance of the frontlines, the report has shown that the country has benefited from increasing crypto donations. These donations were targeted at providing relief for the embattled regions in the country.
According to the report, Foundations like the Serhiy Prytula Charity have raised money for the purchase of relief materials for the Ukraine army, and despite the reigning bear market in space, the donations are still rising.
Roman Sinicyn, the military coordinator of the charity foundation said they are not using crypto for their general purchases as most of their suppliers are not accepting crypto, though there are some they specifically request for crypto.
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