Russian law enforcement agencies recently took a major action—arresting 7 employees of the power grid company at once. They were exposed for providing "facilitation" to illegal cryptocurrency mining farms. The details of this case clearly illustrate the issue: those arrested ranged from low-level electricians to senior engineers, and their job was to help the mining farms do two things—alter meter readings and bypass various inspections. Such manipulations significantly reduce electricity costs.
The Russian Ministry of Internal Affairs stated that the economic loss caused by these illegal operations reached 10 million rubles. This case actually reflects a common phenomenon: in the high-profit cryptocurrency mining industry, electricity costs are an unavoidable pain point, and some mining farms take risks to cut costs. Globally, countries are increasing regulatory oversight on mining, making it harder to reduce costs through gray-area methods.
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WalletsWatcher
· 9h ago
Tampering with meters is such a low-level trick, you're bound to get caught sooner or later. With such strict regulation now, do you still dare to play?
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GasFeeWhisperer
· 10h ago
Changing the meter directly cuts costs in half. This method is really ruthless... However, with increasing regulation in various countries, this approach will eventually be shut down.
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LootboxPhobia
· 10h ago
Is the old trick of fake electricity meters still being played? Wake up, everyone. Regulations are getting stricter now.
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MEVHunterBearish
· 10h ago
Tampering with the electric meter is a really clever trick, but you deserve it if you get caught. Regulations are getting stricter, everyone.
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0xLuckbox
· 11h ago
Tampering with the electric meter is quite a clever trick, but in the end, it was still caught.
Russian law enforcement agencies recently took a major action—arresting 7 employees of the power grid company at once. They were exposed for providing "facilitation" to illegal cryptocurrency mining farms. The details of this case clearly illustrate the issue: those arrested ranged from low-level electricians to senior engineers, and their job was to help the mining farms do two things—alter meter readings and bypass various inspections. Such manipulations significantly reduce electricity costs.
The Russian Ministry of Internal Affairs stated that the economic loss caused by these illegal operations reached 10 million rubles. This case actually reflects a common phenomenon: in the high-profit cryptocurrency mining industry, electricity costs are an unavoidable pain point, and some mining farms take risks to cut costs. Globally, countries are increasing regulatory oversight on mining, making it harder to reduce costs through gray-area methods.