Russian Arrested for Defrauding Buyers of Mining Hardware Worth Over $300,000
Police in the southern Russian city of Astrakhan have detained a man accused of defrauding people who wanted to purchase crypto miners. Law enforcement officials say the suspect made millions of rubles through fictitious sales of mining devices to Russian citizens and foreigners. Investigators Claim Russian Made Money Selling Nonexistent Crypto Mining Rigs A resident of Russian Republic of Tatarstan’s capital city, Kazan, has been apprehended in Astrakhan, Southern Russia, for allegedly defrauding 10 local residents and a number of foreigners who tried to buy mining equipment from....
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Russian law enforcement is looking into the alleged theft of mining hardware valued at around $1.9 million. The powerful computing equipment disappeared from a crypto mining hotel in Irkutsk, the owners of which have been accused of large scale fraud. 100 Russians Lose Mining Machines Worth 100 Million Rubles Police in the Russian Irkutsk Oblast have launched an investigation of the operators of a mining hosting facility suspected of defrauding clients and stealing their expensive coin minting hardware, Tass news agency reported, quoting the region’s Main Directorate of the Interior....
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),....
A Serbian national has been extradited to the United States to face charges of defrauding investors out of more than $70 million through a cryptocurrency mining and binary options scam. Antonije Stojilkovic, 32, and six accomplices, who were all arrested between July and October 2020, faces up to 20 years in federal prison if convicted. Bogus Profiles According to a statement from the U.S. Department of Justice (DOJ), Stojilkovic was nabbed in his home country after the country submitted a “provisional arrest request on July 24, 2020. The statement adds that his removal “from....
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills.
Supply Exceeds Demand on Russian Market for Mining Chips
Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban....
Four alleged masterminds of the “Oz Project” have been arrested after duping investors across Japan for at least four years. According to investigators, the scheme raked in $55 million from about 20,000 investors, promising 2.5 times returns in four months. Police in Aichi Prefecture, Japan, said Monday that four men have been arrested for defrauding investors in a cryptocurrency investment scheme called the “Oz Project.” The police said the group had amassed at least 6 billion yen (approximately $55 million). According to local media, the number of victims is....