The Security Service of Ukraine (SSU) recently had a big catch when they raided a facility filled with 5,000 computer units used for crypto mining.
According to the authorities, the facility was detected to be illegally using so much energy to the extent that it can bring down several neighborhoods’ power supply.
SSU dubbed the facility as the “largest” crypto farm in Ukraine, which was established by Vinnytsia and Kiev residents.
The counterintelligence agency also added that miners have used the former warehouse of electricity provider Vinnytsiaoblenergo and used the company’s electricity network to start their crypto mining operations.
Electric company under fire
With this big discovery, SSU will open an investigation to pin down the people behind the illegal operation.
Also, the agency will investigate Vinnytsiaoblenergo for the involvement of their old facility and may file charges related to the illegal use of public utilities such as water, heat, and electricity.
Previously, SSU successfully brought down the illegal mining operations of a farm located in Chernihev Oblast, which was also found using illegally extracted electricity.
Crackdowns and CBDCs
The government is gaining significant wins when it comes to cryptocurrencies and its desire to migrate to a digital economy. Ukraine is being successful with its campaign against illegal crypto mining, and it is starting to make progress on its digital hryvnia, its own Central Bank Digital Currency (CBDC).
Ukraine’s parliamentary body passed a law on July 2 recognizing digital hyrvnia as a payment standard. This means that its digital currency can now be treated the same as cash.
This is a clear sign that the country has serious, dedicated, and well-planned intentions to create a digital-centric currency to further improve Ukraine’s economy.
Image courtesy of Cointelegraph News/YouTube
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