Cryptheory: NFT, Play-to-Earn, Crypto News

24/7 crypto news, cryptocurrency meaning, guides, learning, #cryptohelpschildren

During the raid in Ukraine authorities confiscated 3,800 PS4 consoles that mined cryptocurrencies

2 min read

A raid in Ukraine has revealed a mining farm with 3,800 PlayStation 4 consoles.

According to reports, officials from the Ukrainian Security Service (SSU) also detained 50 processors and 500 graphics cards during the action against the illegal mining operation. An official statement from the SSU called it “the largest cryptocurrency farm in Ukraine, where they confiscated more than 5,000 units of computer equipment.”

SBU closes crypto mining farm with 3,800 PS4 for electricity theft in  Ukraine | News Rumours


Raid in Ukraine

The farm illegally used a large amount of electricity in the city of Vinnytsia. To dimensions that could power entire neighborhoods.

The statement further states that the mining farm was operated by residents of Vinnytsia and the Ukrainian capital Kiev. According to the SSU, miners have established operations in the former warehouse of the Ukrainian electricity provider Vinnytsiaoblenergo. They connected to the company’s electricity grid to power their mining farm.

The SSU said it was now investigating to find out how many people and who were involved in the illegal activities.

This raid is the second successful shutdown in Ukraine in July. The SSU has discovered another illegal mining farm using stolen electricity in the Chernihev region. SSU officials seized more than 150 ASIC miners.

Cash and CBDC in Ukraine

While their security service is working against illegal mining and use of electricity, other things are being prepared in the Ukrainian crypto sector. Especially in connection with the digital currency of the central bank (CBDC), the digital hryvnia.

On July 2, reports revealed that the country’s parliamentary body had adopted a payment services law that made the CBDC a payment standard. In other words, treat it just like cash.

This decision indicates the enthusiasm of the Ukrainian government for the digital economy. The digital hryvnia is still in the research and development phase. However, Ukrainian officials considered CBDC as early as 2018 and even tested a prototype on a Stellar Lumens blockchain.

Reports also suggest that their decision makes Ukraine one of the few nations to introduce a law recognizing the CBDC.

How to create NFTs and sell them on Rarible

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

Leave a Reply

Your email address will not be published.