crypto mining seize
Russian Customs Seize Smuggled Crypto Mining Units of Mongolia
October 3, 2019
crypto mining seize
Russian Customs Seize Smuggled Crypto Mining Units of Mongolia
October 3, 2019

The Federal Customs Service of the Russian Federation seized crypto-mining units smuggled out of Mongolia into Russia.

Confiscation of Mining Units

On Oct 1, Coinspot reported that illegal import of four crypto mining devices was stopped across the Russia-Mongolia border into the Russian territory.

The smuggler was detained by Altai customs officers during a border check in Tashanta

A Mongolian citizen was trying to smuggler the crypto mining units with fans and connected microcircuits. The detainee was confiscated when couldn’t provide any legal documents for the crypto mining device.

Criminals rarely withdraw digital currency

A June report by Cointelegraph stated that Artem Sychev, the first deputy director of the Information Security Department of the Bank of Russia said that criminals rarely use cryptocurrency to withdraw stolen money.

“In the Russian Federation, this (withdrawing of stolen funds with crypto) is used very rarely. Yes, sometimes cryptocurrencies are used to withdraw funds, but now it is not widespread, because it is much easier for an attacker to get cash.”

Artem Sychev, the first deputy director of the Information Security Department of the Bank of Russia.

The country’s central bank stated that criminals preferred to cash out the stolen money over withdrawing it with digital currency.

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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
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