Russian authorities nab an illegal crypto miner for stealing over £387K worth of electricity – Invezz

  • The illegal mining operation had allegedly been active since May this year.
  • During the raid, the authorities discovered 500 crypto mining rigs.
  • It is still unclear whether the arrested man ran the operation by himself.

Russian authorities have apprehended an illegal crypto miner for allegedly stealing electricity worth more than £387,000 from the state power network. A report unveiled this news on June 6, noting that the suspect is a 30-year-old man that resided in Makhachkala, Russia. The miner reportedly created an illegal huge crypto-mining structure that connected approximately 500 platforms to the local power supply network.

Per the publication, the suspect established the crypto mining scheme in May this year. He allegedly rented the third floor of a construction base in a non-residential location in the suburban village of Khushet. The 30-year-old then developed a mining farm that saw him mine altcoins and bitcoins (BTC). To run his activities, the man purportedly made an illegal connection to the power line that ran along the construction site. He then redirected the power to the specialized mining equipment.

It is still unknown how much the illegal mining operation made

After raiding the mining farm, the police discovered computer components and 518 crypto mining rigs. After arresting the miner, law enforcement officers opened a criminal case against him for causing property damage by fraud and breach of trust. The police also launched