Ukrainian Authorities Seize 3,800 PS4 Consoles in Crypto Mining Raid

Share Article
In Brief
  • Ukrainian security service (SSU) has seized over 5,000 units of computer equipment in a raid of an illegal mining farm in Vinnytsia.

  • SSU has asserted that the mining operation was set up by residents of Kiev and Vinnytsia, and is currently investigating those involved.

  • This raid follows another conducted earlier this month, in which over 150 ASICs were seized.

  • promo

    BIT Launchpad: Up To 3,500 FREE BIT. Don’t Miss The Beat. Join Now!

The Trust Project is an international consortium of news organizations building standards of transparency.

A raid in the Ukraine has uncovered a mining operation consisting of 3,800 PlayStation 4 consoles.

Sponsored



Sponsored

According to reports, officials from the Security Service of Ukraine (SSU) also seized 50 processors and 500 graphics cards when raiding the illegal mining op. An official statement from the SSU called the mining operation “the largest crypto farm in Ukraine,” from which they confiscated over 5,000 units of computer equipment. 

The statement asserts that the farm illegally extracted large amounts of electricity in the city of Vinnytsia. To the proportions that could have left entire neighborhoods without electricity. 

Sponsored



Sponsored

Furthermore, the statement says that residents of Vinnytsia and the Ukrainian capital Kiev established the mining operation. According to the SSU, the miners set up their op at a former warehouse of the Ukrainian electricity provider Vinnytsiaoblenergo. They tapped into the company’s electricity network to power their mining farm.

The SSU has stated that they are now investigating to establish who was involved in the illegal activity. Including officials at Vinnytsiaoblenergo. The security service registered proceedings under the Criminal Code of Ukraine pertaining to the theft of water, electricity or heat through its unauthorized use.

This raid is the second successful shutdown in Ukraine in July so far. The SSU discovered another illegal mining farm using stolen electricity in Chernihev Oblast. SSU officials confiscated more than 150 application-specific integrated circuits (ASICs) from the scene.

Cash and CBDC on equal footing in Ukraine

While their security service cracks down on illegal mining and electricity usage, other things are stirring in the Ukrainian crypto space. Particularly relating to their central bank digital currency (CBDC), the digital hryvnia.

On July 2, reports revealed that the country’s parliamentary body, the Verkhovna Rada, passed a law on payments services that made the CBDC a payment standard. In other words, treating it as the same as cash.

This decision indicates the Ukrainian government’s enthusiasm towards making its economy digital. The digital hryvnia is still in its research and development phase. However, Ukrainian officials have been considering a CBDC since 2018, and even tested a prototype on the Stellar Lumens blockchain.

Reports also indicate that their decision makes Ukraine one of a few nations to establish a law recognizing a CBDC.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits.

Follow Author

Market signals, studies and analysis! Join our Telegram Today!

Go

Bit2Me ICO JUST STARTED! Buy B2M token now.

Buy now!

BIT Launchpad: Up To 3,500 FREE BIT. Don't Miss The Beat.

Join Now!