Masked Men Rob Large Crypto Mining Farm Near Moscow

Masked Men Rob Large Crypto Mining Farm Near Moscow

Armed robbers have plundered a large crypto mining facility not far from the Russian capital, local media reported. The unidentified perpetrators stole dozens of video cards in the latest incident involving theft of coin minting hardware, which has been on the rise in Russia.

Unknown Attackers Steal Mining Equipment From Crypto Farm in Russia

A crypto mining farm in the village of Kuchino, near the city of Domodedovo in Moscow Oblast, has been raided by thieves, the Russian crypto news outlet Bits.media reported on Wednesday. The mining facility was located in a warehouse owned by the Vkusvill supermarket chain.

According to employees of the security company responsible for the compound, four individuals wearing masks entered the warehouse, threatened the guards with weapons and handcuffed them.

Then the attackers took away four containers with around 100 graphics processing units (GPUs) and other hardware used to extract digital currencies. Law enforcement authorities have estimated the value of the stolen mining equipment at around 1 million rubles (over $18,000 at the time of writing).

The perpetrators also tried to hide their traces by stealing the storage devices with the video records from the surveillance cameras. Russian police are now looking for the thieves who may get up to 12 years in prison if they are caught.

This is another case of theft of coin minting hardware in Russia after the operators of a mining hotel in Irkutsk disappeared in June, stealing mining rigs worth around $1.9 million from their clients. The number of such incidents has increased over the past few years, along with the growing popularity of mining.

Bitcoin mining is among those crypto-related activities that are yet to be regulated in the Russian Federation. The cool climate and cheap energy resources in some of the country’s regions are regarded as competitive advantages for the development of the industry.

At the same time, Russian authorities have been taking steps to limit the spread of home crypto mining by raising electricity rates for Russians minting with improvised installations in their basements and garages. The phenomenon has caused excessive consumption and breakdowns in residential areas in regions with heavily subsidized electricity for the population.

Do you expect cases of crypto mining hardware theft to continue to increase in Russia? Tell us in the comments section below.

Earning Passive Income With Crypto

Related Posts

PoW Miners Rake in Profits Mining ETH Until the End, Ethash Networks Expect a Boost, JPMorgan Strategists Say ETC Could Benefit

In just over a month’s time, The Merge is likely to be implemented on the Ethereum blockchain and the network’s proof-of-work (PoW) miners will be forced to…

Another Stablecoin Depegs From USD Parity, Polkadot-Based AUSD Loses 98% in Value

2022 has been the year of broken stablecoins as a myriad of dollar-pegged crypto assets depegged from their dollar value this year. On August 14, the Polkadot-based…

Weekly NFT Sales Show Improvement, Fantom and Immutable X NFT Volume Spikes

Non-fungible token (NFT) sales managed to climb higher during the last seven days than the previous week’s overall sales. This week’s NFT sales managed to jump over…

Aave Responds to Blocking Addresses Over Tornado Cash Clampdown

DeFi lending protocol Aave Protocol said the TRM API on its app was responsible for blocking addresses that received ETH from unknown sources through Tornado Cash. In…

Brazilian Crypto Investment Platform Bluebenx Stops Withdrawals Under Hack Allegations

Bluebenx, a Brazil-based cryptocurrency investment platform, suspended withdrawals last week due to an alleged hack that made the company lose more than $31 million. The company announced…

Acala Network aUSD Depegs by 99% as Hacker Issues Over 1 Billion Tokens

Acala Network became the latest Defi network to suffer an exploit after hackers breached the network and issued 1.2 billion aUSD tokens. The Polkadot-based network issues aUSD…