Underground Crypto Operation Uncovered in Lviv, Ukraine
The State Bureau of Investigation (SBI) has uncovered an underground cryptocurrency farm in Lviv region, organized by the management of a branch of the state enterprise "Forests of Ukraine."
SBI personnel exposed the operation of an illicit data center for cryptocurrency mining, which was set up within the premises of the "Rava-Ruska Forest Management" branch of the State Enterprise "Forests of Ukraine."
The cryptocurrency farm was organized by the former director, who currently heads another branch, his deputy, who now holds the position of director, the chief accountant, and other responsible individuals. Over a year ago, the illegal mining center was established with the installation of specialized equipment in the state institution. The generated cryptocurrency was stored in crypto wallets created by the officials.
The costs for the electricity consumed were paid by the state enterprise, while the culprits reaped the benefits by receiving pure profits. Preliminary calculations indicate losses of over 1.5 million hryvnias, with the individuals involved earning at least 4 million hryvnias through this scheme.
Additionally, due to the systematic overload of communal networks, power outages and significant disruptions in the power supply to residential properties and critical infrastructure occurred.
During the investigative actions carried out at the premises of the "Rava-Ruska Forest Management" branch, technological equipment facilitating the operation of the mining center, including flash drives, computers, laptops, mobile phones, video cards, power supplies, motherboards, processors, hard drives, CPU coolers, adapters, servers, and disks used for uninterrupted video surveillance, were discovered and seized. Documents substantiating the criminal activity were also confiscated.
The cryptocurrency farm was organized by the former director, who currently heads another branch, his deputy, who now holds the position of director, the chief accountant, and other responsible individuals. Over a year ago, the illegal mining center was established with the installation of specialized equipment in the state institution. The generated cryptocurrency was stored in crypto wallets created by the officials.
The costs for the electricity consumed were paid by the state enterprise, while the culprits reaped the benefits by receiving pure profits. Preliminary calculations indicate losses of over 1.5 million hryvnias, with the individuals involved earning at least 4 million hryvnias through this scheme.
Additionally, due to the systematic overload of communal networks, power outages and significant disruptions in the power supply to residential properties and critical infrastructure occurred.
During the investigative actions carried out at the premises of the "Rava-Ruska Forest Management" branch, technological equipment facilitating the operation of the mining center, including flash drives, computers, laptops, mobile phones, video cards, power supplies, motherboards, processors, hard drives, CPU coolers, adapters, servers, and disks used for uninterrupted video surveillance, were discovered and seized. Documents substantiating the criminal activity were also confiscated.
