The authorities of the Zavolzhsky region of Russia have found a 34-year-old local resident guilty of stealing crypto mining equipment. It was worth more than 1.6 million Russian rubles that is almost $22,000. According to a report from the Yaroslavl Region’s Prosecutor’s Office, the state prosecutor confirmed that in February 2021, a Yaroslavl resident was found illegally entering a friend’s garage.
He was found stealing his friend’s mining equipment intended to be used to earn cryptocurrency. The Russian authorities found that Russian man guilty as he committed the crime. They cited this as a large-scale theft of property and illegal entry. In court, the guilty Russian man admitted the charges. Then he also voluntarily returned the stolen cryptocurrency mining device to its original owner. In addition, he also admitted in court that he could not use the stolen crypto mining rig due to his “lack of relevant knowledge”. According to the results of the investigation, the court sentenced the man to “three years of a suspended sentence along with a probation period of three years”.
This allowed the accused to close the case without being in jail. However, he will have to comply with all conditions of the probationary period. On the 4th of August, the Russian authorities announced the allocation of 14.7 million rubles that is around $200,000 to create systems for tracking and analyzing cryptocurrency transactions involving bitcoins. Russia’s Federal Financial Supervision Service has contracted the job to RCO. It is a company indirectly supported by Sber which was formerly known as Sberbank.
Moreover, Russia also earlier invested in an analytics system to track illegal activities by “partially reducing the anonymity” of cryptocurrency transactions for Bitcoin (BTC), Omni, Ether (ETH), and privacy-focused cryptocurrencies like Dash and Monero (XMR).
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