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Theft of Electricity by Illegal Cryptocurrency Miners Cost a Loss of $6.5 Million in Russia
Summary: Rosseti, state-owned Russian power company, recently reported over 35 cases of illegal miners stealing electricity for cryptocurrency mining across 20 regions in Russia since 2017, which resulted in a total loss of more than 450 million rubles ($6.5 million).
Rosseti, state-owned Russian power company, recently reported over 35 cases of illegal miners stealing electricity for cryptocurrency mining across 20 regions in Russia since 2017, which resulted in a total loss of more than 450 million rubles ($6.5 million).
The power grid company recognizes the theft as an illicit avoidance of cryptocurrency mining’s main cost, electricity, to make more profits. Identified cases have been sent to law enforcement agencies for further procedural decisions.
By Dawn Wu
Tags: Cryptocurrency Mining,Russia,theft
Link: Theft of Electricity by Illegal Cryptocurrency Miners Cost a Loss of $6.5 Million in Russia [Copy]
