Ukrainian Police recently raided a cryptocurrency mining farm and what they found was shocking.
When the police made their way inside of the warehouse instead of finding computers to their surprise they saw close to 3,800 PS4 Pros and 1,200 other gaming related devices.
According to a police report over $257,000 USD worth of electricity was being stolen a month which could ultimately lead the city of Vinnytsia where the mining operation was taken place without electricity if authorities didn’t intervene.
The Security Service of Ukraine reported the find was the largest illegal cryptocurrency discovered so far.
Ukraine Police have seized thousands of PS4 Pros used in cryptocurrency mining operation: https://t.co/SIskfDp3cE pic.twitter.com/Er71G11V9H
— GameSpot (@GameSpot) July 12, 2021
Cryptofarm with thousands of PS4 Pros raided in Ukraine https://t.co/kc1NTX3e25 pic.twitter.com/Rf1at2xCzu
— Engadget (@engadget) July 13, 2021
Engadget covered the story and shared these details:
The Security Service of Ukraine or SBU has discovered and raided a cryptocurrency mining farm that allegedly stole electricity from the country’s power grid. But instead of findings computers, the agency found racks with thousands of PS4 Pros stacked vertically side-by-side. As reported by Kotaku, the Ukrainian authorities confiscated over 5,000 gaming-related devices — 3,800 of which were consoles — from a warehouse right next to (and formerly owned by) the Vinnytsiaoblenergo energy distribution company.
It’s the largest cryptofarm the SBU has discovered so far, and the agency believes it’s being operated by people living in the cities of Kyiv and Vinnytsia. Apparently, the operators used special electricity meters to prevent authorities from discovering the theft, which amounted to as much as US$257,000. “At the same time,” the SBU wrote in its announcement, “the illegal withdrawal of electricity could lead to more global consequences — entire neighborhoods of Vinnytsia could be left without electricity.”
In the latest crackdown on illegal #crypto mining, the Security Service of Ukraine (SSU) busted a mining operation, arresting many #miners and recovering over 3500 PS4 gaming consoles and about 500 graphics cards found on the premises citing electricity theft.
— Aishwary (@Crypto_Aish) July 11, 2021
The Security Service of Ukraine reported these details on the operation:
In the city of Vinnytsia, the SBU has exposed and documented a large-scale electricity theft. The offenders mined cryptocurrency in one of the former premises of JSC Vinnytsiaoblenerho. Ukrainian law enforcement seized almost 5,000 computers. It is the largest underground crypto farm.
SBU officers established that the residents of Kyiv and Vinnytsia cities set up illegal crypto farm in a former warehouse of JSC Vinnytsiaoblenerho, located in the facility’s industrial park.
The offenders stole electricity of JSC Vinnytsiaoblenerho. To conceal their activities, they used electricity meters that did not show a real energy consumption.
According to preliminary estimates, the monthly losses to the state ranged from UAH 5 to 7 m. (USD 186,200 to 259,300). However, such illegal activity could lead to power surges and left people without electricity.
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