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Local media reported that armed robbers had taken over a large cryptocurrency mining facility near Moscow. In the latest theft of coin minting hardware in Russia, the unidentified perpetrators took dozens of video cards.

The Russian crypto news outlet Bits.media reported Wednesday that thieves raided a crypto mining farm located in Kuchino near Domodedovo in Moscow Oblast. The Vkusvill supermarket chain owned the warehouse where the mining facility was found.

Employees of the security firm responsible for the compound claim that four men wearing masks entered the warehouse and threatened the guards with guns before being handcuffed.

Four containers containing around 100 GPUs and other hardware were taken by the attackers. These units were used for extracting digital currencies. The value of the stolen mining equipment was estimated at approximately 1 million rubles (more than $18,000 at the time this article was written).

They also stole the storage devices that contained the video recordings from the surveillance cameras to cover their tracks. Russian police are currently looking for thieves, who could be sentenced to up to 12 years imprisonment if caught.

Another case of Russian coin minting hardware theft occurred after operators of a Irkutsk mining hotel vanished in June. The thieves stole mining equipment worth approximately $1.9 million from their customers. These incidents have increased in number over the last few years due to the increasing popularity of mining.

Bitcoin mining is one of the crypto-related activities that has yet to be regulated by Russia. For the development of the industry, the country’s cool climate and low-cost energy resources are considered competitive advantages.

Russian authorities are taking steps to stop home crypto mining. They have raised electricity rates to Russians who make their own installations in basements or garages. This phenomenon has led to excessive consumption and breakdowns of electricity in residential areas located in heavily subsidized regions.

The post Russian Mining Farm Close to Moscow Robbed by Masked Gang first appeared on The Daily Encrypt.


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Angie Byrd