Russian Authorities Conduct Raids on Illegal Crypto-Mining Centers in Siberia

Russian authorities have made a significant move in the fight against illegal cryptocurrency mining operations in Siberia. The Novosibirsk branch of the Russian power provider Rosseti, in collaboration with law enforcement agencies, conducted raids on four major data centers, resulting in the seizure of over 3,200 cryptocurrency mining rigs.

According to reports, the operators of these mining centers are facing criminal charges for their involvement in the illicit activities. The facilities were part of a larger network of illegal crypto-mining operations in Novosibirsk, with authorities estimating that the centers collectively stole around $2.1 million worth of electricity from the power grid.

Novosibirsk has become a hotspot for the crypto mining industry in Russia, but concerns have been raised about the surge in illegal mining activities in the region. Unauthorized connections to the power grid for electricity theft have become a common practice among illegal mining farms.

During the raids, authorities confiscated nine power transformers along with the thousands of cryptocurrency mining devices. The police crackdown targeted facilities located in various areas of the city, including near a wastewater treatment plant, in a forest, near a landfill, and within a private sector area.

The operators of these illegal mining farms could face significant jail time if convicted for their involvement in the electricity theft. The crackdown serves as a reminder of the ongoing battle against illicit cryptocurrency activities and the importance of regulatory enforcement to maintain integrity within the industry.

As authorities continue to crack down on illegal crypto-mining operations, it is clear that the fight against illicit activities in the cryptocurrency industry is far from over.