Police investigate rising crypto-related crimes in Russia

Authorities seized dozens of mining rigs after uncovering an unauthorised crypto farm that caused major damage to the city’s electrical grid.

Russian police have dismantled an illegal crypto mining farm in St. Petersburg and launched a manhunt for those behind the power-draining operation.

Police in St. Petersburg have dismantled an illegal crypto mining farm operating near Mitrofanievsky Highway. The facility caused around 10 million rubles ($127,873) in damage to the city’s power grid.

Dozens of mining rigs and tampered meters were seized from the unmanned warehouse.

Authorities believe the farm spanned several hundred square metres and was powered through a nearby substation. A manhunt is under way for those responsible.

Meanwhile, the Ministry of Internal Affairs has warned of a new scam using foreign call centres. Fraudsters pose as trading experts and convince victims to invest in crypto after fake training sessions.

Once trust is gained, scammers take control of victims’ accounts and transfer funds to their own wallets. The warning follows the sentencing of influencer Valeria Fedyakina, known as Bitmama, for a $21 million crypto fraud.

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