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The authorities managed to shut down what seems to be one of the largest underground cryptomining operations ever discovered.
From the data gathered so far, it looks like the ring was run by stringing together 3,800 Sony PlayStation 4 (PS4) gaming consoles.
Cryptominers work as auditors for endless strings of blockchain ledgers, and in some cases, this is rewarded with cryptocurrency.
Even if the cryptocurrency in itself is not illegal, the stealing of the vast amounts of electricity needed to power the computer farms required to mine cryptocurrency is most definitely prohibited.
The Miners Were Powered by PS4
It seems that this specific group of miners powered by PS4 was stealing anywhere from $186,200 to $259,300 worth of electricity each month. That’s something the building owner meanwhile disputed.
The cryptomining was happening in a warehouse in the city of Vinnytsia and was formerly owned by a company called JSC Vinnytsiaoblenerho, but the company denies any involvement and refutes any electricity was stolen from the location, according to a translated statement from the company.
During the inspection, the representatives of the controlling body did not reveal any facts of theft of electricity. Therefore, the information about the multimillion-dollar theft of electricity is not true. The management of JSC Vinnytsiaoblenergo actively cooperates with the investigation and is interested in establishing all the facts and punishing the perpetrators.
The story gets another perspective as the Security Service of Ukraine believes that the cryptomining group’s electricity consumption could’ve possibly led to power surges and outages in the area.
Alongside the PS4 the authorities reported seizing 500 graphics cards, 50 processors, electricity use documents, phones, flash drives, and notes.
According to the Security Service of Ukraine, the crypto miners will be charged with
…the theft of water, electricity or thermal energy through its unauthorized use.
This is not the first arrest made by Ukrainian law enforcement in recent months, with the raid of the Clop ransomware group’s operation being the most important.
The Ukrainian police forces were also part of the international takedown of Emotet.
Dora is a digital marketing specialist within Heimdal™ Security. She is a content creator at heart - always curious about technology and passionate about finding out everything there is to know about cybersecurity.
