Russian man gets three-year sentence for stealing a friend’s mining rig
The 34-year old convict was reportedly not able to make use of the stolen mining equipment due to a “lack of relevant knowledge.” Authorities from Russia’s Zavolzhsky district have found a 34-year-old local man guilty of stealing cryptocurrency mining equipment worth more than 1.6 million rubles (nearly $22,000).According to the report shared by the Prosecutor's Office of the Yaroslavl Region, the state prosecutor confirmed that the Yaroslavl resident was found entering a friend’s garage unlawfully back in Feb. 2021 and stealing their mining equipment that was intended to be used for....
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Russian authorities have investigated a number of cases involving the theft of crypto mining equipment in the past months. A resident of Yaroslavl has just been found guilty of stealing mining hardware worth over $20,000 and sentenced to three years in prison.
Russian Convicted of Stealing Mining Rigs Receives Prison Sentence
A 34-year-old man from the city of Yaroslavl, some 250 kilometers northeast of Moscow, has been found responsible for the theft of equipment for cryptocurrency mining. The hardware’s value has been estimated at 1.6 million rubles (almost $22,000),....
According to a recent report, a 34 old Russian man stole a cryptocurrency mining rig but didn’t know. As a result, the Zavolzhsky district authorities in Russian convicted the man for the theft of his friend’s crypto mining equipment valued at 1.6 M rubles ($22,000). A Brief About the Cryptocurrency Mining Theft As stated by […]
The Russian Ministry of Finance is taking a hard stance against Russian adopters of bitcoin and cryptocurrencies, with a proposal that -while not yet legal or enforced-aims to punish users engaging in Bitcoin trading with a prison sentence of up to 4 years. While most governing bodies around the world looks to adopt bitcoin or block chain technology or look for ways to regulate the cryptocurrency, Russia is unrelenting in its stance toward what it sees as the "trafficking" of Bitcoin. The Russian Ministry of Finance that had previously supported fines of up to 500,000 rubles or a 2-year....
According to a report, the Russian Finance Ministry is seeking to push for amendments to the Criminal Code by proposing two-year ‘corrective labor’ sentence, or a fine of up to 500,000 rubles for bitcoin users. The Russian Interior and Finance Ministries see cryptocurrencies as a threat to not only the Russian economy, but also its national security. ‘Corrective labor’ colonies are among the most common types of prisons in Russia. They are a combination of penal detention and forced labor. In a time where governments and regulators are taking varying approaches to popular decentralized....
Some Bitcoin miners have been busted for stealing electricity according to a public statement by police in Ma’anshan, a mining town in China. Very few details are provided except to state that 74 bitcoin mining units have been seized, coinciding with a small fall in difficulty of around 1.63% on June the 8th. This is the second known case of Chinese bitcoin miners stealing electricity. Last year, 200 bitcoin mining rigs were seized following investigation by Ma’anshan’s power companies and police after reports from the public suggested possible stealing behavior. The investigation found....