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. Tags in this story Crypto, crypto farm, crypto mining, Cryptocurrencies, Cryptocurrency, Mining Devices, mining equipment, Mining Farm, mining hardware, mining machines, Moscow, Regulation, robbery, Russia, russian, Theft, Thieves

Do you expect cases of crypto mining hardware theft to continue to increase in Russia? Tell us in the comments section below. 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. Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv MINING | 2 days ago Marathon Secures 254 Megawatts to Bolster Company"s 2023 Bitcoin Mining Goals MINING | 2 days ago

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