Thousands of PS4s found in Ukraine Cryptocurrency Raid

According to Kotaku Given how popular Bitcoin has become throughout the world, the mining process for this decentralized money has also risen, adding to excessive energy usage, which is hastening climate change. Last week, the Ukrainian Security Service, often referred to as the SBU, found and stormed a cloud mining facility that was reportedly stealing electricity from the country’s power system. The regulatory body was further perplexed when they discovered thousands of stacks of PS4 game consoles instead of PCs at the facility.

As per a statement by Kotaku, the SBU uncovered more than 5,000 gadgets in a facility near the Vinnytsiaoblenergo power generation business in Vinnytsia, including 3,800 PS4 Pros as well as other gaming-related electronics. It should be mentioned that bitcoin mining may also be performed on game consoles.

The government has also accused the cryptocurrency mining operation of stealing as much as $2,56,648 worth of electricity from the surrounding grid, using sophisticated electrical meters to conceal the fraud, according to the article.

“Cryptocurrency mining equipment has never operated in the premises owned by our company.” said Vinnytsiaoblenergo in an official statement released on July 9.

“During the inspection, the representatives of the controlling body did not reveal any facts of theft of electricity. Therefore, information about multimillion-dollar thefts of electricity is not true.” the statement added, refuting the notion that any theft had occurred.

Despite the fact that bitcoin mining and trading are allowed in Ukraine, Ukrainians are unable to register as cryptocurrency exchanges or companies. According to Nataliya Drik, CEO of Blockchain Ukraine, the SBU frequently exploits its power and grabs expensive equipment costing thousands of dollars without legitimate purpose, according to the Kyiv Post.

According to the report, there are two categories of cryptocurrency users in the country: those who are subjected to “unsubstantiated law enforcement raids” and those who are “criminals” who import cryptocurrency mining gear “illegally” to avoid paying taxes overseas.