Illegal Crypto Mining Discovered In Russia As Authorities Prepare for New Penalties
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The post Illegal Crypto Mining Discovered In Russia As Authorities Prepare for New Penalties appeared first on Coinpedia Fintech News On June 11, a KAMAZ truck was discovered in Russia’s Republic of Buryatia operating an illegal cryptocurrency mining. The setup in the truck was connected to a 10 kilovolt power line without permission. This illegal activity comes at a time when the russian officials are preparing to introduce harsher penalties. Discovery of Illegal Crypto Activity– Everything You Need to Know On Wednesday, Russian Inspectors found 95 mining devices and a transformer substation, capable of powering an entire village. While the officials were reaching the scene, two unidentified individuals fled the scene in an SUV without a trace. This illegal crypto operation was found during a line inspection in the Pribaikalsky District, marking the sixth case of electricity theft linked to crypto mining in Buryatia. What Actions Did the Russian authorities take? Russian authorities present at the scene have seized the mining rigs, and the equipment has been confiscated while pursuing legal action against the activity. The authorities are taking important steps to dismantle the illegal mining operations while promoting the legal pathway. An analyst stated– “It will be cheapest to carry out this type of activity within the limits allocated [by law] in 2025 in the Republic of Khakassia. In total, monthly consumption of 6,000 kWh in an apartment with an electric stove will cost 162 thousand rubles per year, and 157 thousand rubles in a house with electric heating.” Penalty for Illegal Crypto Mining in Russia Russian authorities are preparing new harsh penalties for illegal cryptocurrency mining. It includes fines ranging from 100,000 to 2 million rubles (approx $1,272–$25,456). This penalty fee is applied to solo entrepreneurs, officials, and corporations, while industrial offenders see their mined crypto confiscated by…
Filed under: News - @ June 16, 2025 5:27 am