{"id":13906,"date":"2021-11-03T13:54:02","date_gmt":"2021-11-03T13:54:02","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/amid-risk-of-power-deficit-ukraine-shuts-down-another-crypto-farm\/"},"modified":"2021-11-03T13:54:02","modified_gmt":"2021-11-03T13:54:02","slug":"amid-risk-of-power-deficit-ukraine-shuts-down-another-crypto-farm","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/amid-risk-of-power-deficit-ukraine-shuts-down-another-crypto-farm\/","title":{"rendered":"Amid Risk of Power Deficit, Ukraine Shuts Down Another Crypto Farm"},"content":{"rendered":"

With <\/strong>\u0430 growing threat of electricity shortages in the winter months, Ukraine has busted another large coin minting facility illegally drawing power from the grid. The country\u2019s security agency announced it\u2019s stepping up efforts to ensure the nation\u2019s energy system is well-protected from such consumers. <\/strong><\/p>\n

Large-Scale Illegal Mining Operation Uncovered in Central Ukraine<\/h2>\n

The Security Service of Ukraine (SBU), the country\u2019s top law enforcement agency, is intensifying \u201csystematic work to ensure the protection of critical infrastructure of the United Energy System of Ukraine,\u201d a press release<\/a> revealed this week. The announcement provides details about its latest operation against illegal crypto mining in the country:<\/p>\n

An underground cryptocurrency farm has been exposed in Cherkasy region. The operators stole industrial volumes of electricity from the regional power grid for bitcoin mining.<\/p>\n

Preliminary estimates shared by the SBU suggest that the Ukrainian state has suffered financial damages amounting to more than 6 million hryvnia (close to $330,000). The stolen electricity, officials claim, is sufficient to power more than a dozen homes for several years.<\/p>\n

The security service said the mining undertaking had been organized by local businessmen in leased warehouses. They illegally connected their hardware to the grid operated by Cherkasyoblenergo, the region\u2019s power distribution company. The daily operation of the equipment has allegedly inflicted \u201clarge-scale energy losses\u201d to the state-owned enterprise.<\/p>\n

During a search at the premises, agents found other evidence of illegal activities, the SBU added without elaborating. \u201cInvestigative actions are underway to prosecute the organizers of the illegal business\u201d within proceedings under the Criminal Code of Ukraine, the organization emphasized. Involved in the case are also representatives of the National Police and the Prosecutor General\u2019s Office.<\/p>\n

The growing popularity of cryptocurrencies has turned Ukraine into a leader in adoption<\/a> in recent years. The government in Kyiv has taken steps to legalize<\/a> \u201cvirtual assets.\u201d While the mining of digital coins is not banned<\/a>, it isn\u2019t regulated either. This year, the Security Service of Ukraine has been going after miners illegally exploiting the country\u2019s electricity supply network, shutting down<\/a> a number of crypto farms in various regions.<\/p>\n

Other crypto-related activities have been targeted as well. In August, the SBU blocked<\/a> a number of online crypto exchangers allegedly sending money to Russian wallets. Last week, law enforcement officers exposed<\/a> a criminal group specializing in the theft of cryptocurrency through malware and the laundering of illicit funds for hackers.<\/p>\n

Do you think Ukrainian authorities will continue to crack down on crypto mining in the country? Tell us in the comments section below. <\/em><\/strong><\/p>\n

Bitcoin News
\nMining, agency, agents, coin minting, Crypto, crypto farm, Cryptocurrencies, Cryptocurrency, damages, Electricity, Energy, financial losses, illegal mining, Investigation, Law Enforcement, Mining Facility, Mining Farm, operation, Police, SBU, Security Service of Ukraine, Theft, Ukraine, ukrainian<\/p>\n","protected":false},"excerpt":{"rendered":"

With \u0430 growing threat of electricity shortages in the winter months, Ukraine has busted another large coin minting facility illegally drawing power from the grid. The country\u2019s security agency announced it\u2019s stepping up efforts to ensure the nation\u2019s energy system is well-protected from such consumers. Large-Scale Illegal Mining Operation Uncovered in Central Ukraine The Security…<\/p>\n","protected":false},"author":0,"featured_media":13907,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13906"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13906"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13907"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}