• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv – Mining Bitcoin News

11 months ago
in Crypto Updates
Reading Time: 3 mins read
Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv – Mining Bitcoin News
18
VIEWS
Share on Facebook

Ukraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region. The operators of the crypto farm have been minting coins using large amounts of stolen electricity, threatening energy supply to critical infrastructure, the agency said.

Illegal Mining Farm Discovered in War-Torn Kharkiv Region

Officers from the Security Service of Ukraine (SBU) have discovered and closed down an underground crypto mining center in the eastern region of Kharkiv, the scene of military hostilities between the Ukrainian army and invading Russian forces.

The operation was carried out by the SBU’s Cyber ​​Security Department, working together with the National Police of Ukraine and under the supervision of the Kyiv Holosiiv District Prosecutor’s Office.

According to a press release published Tuesday, the cryptocurrency farm has consumed industrial volumes of unpaid electricity, worth hundreds of thousands of hryvnia (thousands of U.S. dollars).

The Ukrainian authorities said that the mining operation could have potentially caused serious interruptions in the energy supply to residential areas and critical infrastructure facilities near the front line.

Investigators revealed that the mining hardware had been installed by several local residents in a rented warehouse near Kharkiv, Ukraine’s second-largest city. They connected the mining machines to the grid without any authorization.

During the searches carried out, agents of the Security Service of Ukraine seized computers and specialized equipment, among other evidence of the illegal activity.

As part of the ongoing pre-trial investigation, the suspected organizers of the illegal crypto mining business will be notified. Then, the case will be reviewed in court.

In recent years, Ukraine has become a regional leader in crypto adoption and the government in Kyiv has taken steps to legalize transactions with virtual assets. Crypto mining, however, needs further regulation as it’s still a gray zone.

The SBU has been going after miners exploiting the country’s electricity network and shut down a number of crypto farms in various regions since last year. Other illegal crypto-related activities have been targeted as well. For example, a number of online crypto exchangers, allegedly sending money to Russian wallets, were blocked last year.

Tags in this story
conflict, Crypto, crypto farm, crypto mining, Cryptocurrencies, Cryptocurrency, Electricity, front line, illegal, Kharkiv, Kharkiv region, mining crypto miners, Mining Facility, SBU, security service, Theft, Ukraine, ukrainian, War

How do you think the war is affecting cryptocurrency mining in Ukraine? Share your thoughts on the subject in the comments section below.

5D400B11 D5DE 4922 B4F4 0F7229C37672
Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

 

 

Image Credits: Shutterstock, Pixabay, Wiki Commons, SBU

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

Are cryptocurrency a good investment?

Tags: BitcoinCryptoFarmFrontKharkivLineMiningNewssecurityServiceShutsUkraine

Related Posts

Want to Become an Ethereum Validator? You Have to Wait 45 Days and Here’s Why
Crypto Updates

Want to Become an Ethereum Validator? You Have to Wait 45 Days and Here’s Why

4 June 2023
Privacy-focused Aleo blockchain gets new wallet as mainnet launch approaches
Crypto Updates

Privacy-focused Aleo blockchain gets new wallet as mainnet launch approaches

2 June 2023
IRS Can Access Your Coinbase Trade Records, John Doe Summons Valid
Crypto Updates

IRS Can Access Your Coinbase Trade Records, John Doe Summons Valid

1 June 2023
Debt Default – How Bitcoin and Ethereum Could Be Affected- Cryptonewsmart
Crypto Updates

Debt Default- How Bitcoin and Ethereum Could Be Affected- Cryptonewsmart

30 May 2023
6 Meme Coins that reach 100x within a week
Altcoin

6 Meme Coins that reach 100x within a week

9 May 2023
Bali Warns Tourists Against Using Crypto for Payments
Crypto Updates

Bali Warns Tourists Against Using Crypto for Payments

30 May 2023


  • Trending
  • Comments
  • Latest
Breaking Barriers: How Bitcoin Can Transform The Real Estate Industry

Breaking Barriers: How Bitcoin Can Transform The Real Estate Industry

2 June 2023
Ethereum (ETH) Price on Cusp Of Major Breakout

Ethereum (ETH) Price on Cusp Of Major Breakout

2 June 2023
Logic Error in Latest NFT Contract Costs ben.eth 100 ETH in Potential Profits

Logic Error in Latest NFT Contract Costs ben.eth 100 ETH in Potential Profits

2 June 2023
Should A Bitcoin Wallet Have Rights?

Should A Bitcoin Wallet Have Rights?

1 June 2023
Memorial Day Reflections: Reinvigorating Critical Thought, Bitcoin Can Honor Service Members

Memorial Day Reflections: Reinvigorating Critical Thought, Bitcoin Can Honor Service Members

29 May 2023
Want to Become an Ethereum Validator? You Have to Wait 45 Days and Here’s Why

Want to Become an Ethereum Validator? You Have to Wait 45 Days and Here’s Why

4 June 2023
Privacy-focused Aleo blockchain gets new wallet as mainnet launch approaches

Privacy-focused Aleo blockchain gets new wallet as mainnet launch approaches

2 June 2023
Logic Error in Latest NFT Contract Costs ben.eth 100 ETH in Potential Profits

Logic Error in Latest NFT Contract Costs ben.eth 100 ETH in Potential Profits

2 June 2023
Breaking Barriers: How Bitcoin Can Transform The Real Estate Industry

Breaking Barriers: How Bitcoin Can Transform The Real Estate Industry

2 June 2023
Ethereum (ETH) Price on Cusp Of Major Breakout

Ethereum (ETH) Price on Cusp Of Major Breakout

2 June 2023

  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
Preferences
{title} {title} {title}