Security Service of Ukraine Busts Massive Crypto Mining Operation

ukraine bust massive crypto mining operation

The Security Service of Ukraine (SSU) has busted a massive crypto mining operation. The illegal farm was located in Vinnytsia, about 170 miles from the capital of Kyiv. Authorities confiscated hundreds of computers and hundreds of ASICs. They will be charged with stealing thermal and water energy, as well as electricity. While the mining operation has been shut down, the case may not be the last.

The Security Service of Ukraine announced that it has shut down a massive crypto mining operation, and that the operators have been sentenced to prison. They were found to have illegally used $41,300 in electricity. The power company will also be forced to pay the victims’ bills. The amount of money the perpetrators will face is unknown, but the SSC says the electricity costs could reach seven million Ukrainian hryvnia, or around two hundred and twenty-one thousand euros a month.

The illegal crypto farm used over 5,000 units of computer equipment, including 3,800 PlayStation 4 gaming consoles, 50 processors, and 500 graphics cards. The SSU has labeled this operation as the largest in Ukraine. The SSU has seized over 5,000 units of computer equipment, including GPUs, RAM, and motherboards. In addition, they seized laptops, notebooks, phones, and flash drives.

The SSU has reported that the Ukrainian security services uncovered a massive crypto mining farm in Vinnytsia. They have already begun criminal proceedings against the operators of the operation. The SSU’s Security Service also seized more than $70,000 in electricity from the farm. In total, the crypto farms reportedly employed over 100 people. A few of these individuals were arrested for their illegal activities.

The SSU is now investigating the operation to determine whether it was illegal. SSU has already arrested several individuals in Ukraine, including an SSU employee. The SSU has also notified the SSU of their investigation. The SSU has been pursuing these illegal operations since June, and is currently investigating the corrupt practices of Vinnytsiaoblenergo officials. Although the Ukrainian government has taken action against the criminals, it is still too early to know if the crypto farm will become a more widespread phenomenon.

According to the Security Service of Ukraine, the crypto mining operation operated illegally in an abandoned warehouse. The perpetrators used the city’s electricity network to power their machines. In the meantime, the security service also confiscated over five thousand computer units. The SSU has begun criminal proceedings against the owners. A large-scale cryptofarm had been operating in Vinnytsia for about three months, consuming over $70,000 USD in electricity.