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    Central Asia

    Illicit crypto mine in Ferghana costs almost $570,000 in damages

    Illicit crypto mine in Ferghana costs almost $570,000 in damages

    The Cybersecurity Center of the Ministry of Internal Affairs in Uzbekistan reported the discovery of an unregistered cryptocurrency mining farm in the Fergana region.

    A picture of a crypto mine.
    Source: Technopedia

    Law enforcement officials, in collaboration with the local branch of Regional Electric Networks, conducted a targeted raid in the city of Kokand, leading to the identification of the illegal mining operation situated in the residence of a local resident, 22-year-old I.M.

    The unauthorized cryptocurrency mining farm was found to have caused significant damage through its illicit consumption of electricity, amounting to UZS 7bn ($567,282). Consequently, legal proceedings have been initiated against the owner under Part 4 of Article 169 of the Criminal Code, specifically for theft on an especially large scale.

    As per the Prosecutor General’s Office, a total of 26 "gray" mining farms were identified across Uzbekistan from the beginning of the year until December 5. The cumulative electricity consumption of these illegal operations reached 29mn kWh, equivalent to the monthly consumption of 145,000 households. The total cost of unlawfully utilized energy reached UZS 58.2bn ($4.7mn), leading to charges against 29 individuals under Article 169 of the Criminal Code for theft.

     

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    30.12.2023, 01:48   Comments (0)   1243
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