Russian Authorities Seize Crypto Mining Rigs in St. Petersburg Raid

Russian authorities have taken decisive action against an illegal crypto mining operation in St. Petersburg, confiscating dozens of mining rigs from a warehouse in an industrial zone. The raid, which occurred off the iconic Mitrofanievsky Highway, was part of a broader effort to combat illicit activities in the cryptocurrency space. Power experts estimated that the mining operation had caused significant damage to the city’s power grids, amounting to 10 million rubles.

The operation was completely unmanned when police arrived, leading to an ongoing manhunt for the elusive operators. The mining farm, which spanned several hundred square meters, was powered through a main distribution board connected to a neighboring substation. Images and video footage from the raid showed dozens of mining rigs in operation, along with two electrical meters that appeared to have been overridden.

In a related development, the Ministry of Internal Affairs has issued a warning about a new crypto-themed fraud scheme targeting Russian residents. The scam involves foreign call centers, where operatives pose as experts from prestigious universities or employees of major financial institutions. They offer crypto trading training and convince victims to register accounts on specific crypto exchanges, promising quick and substantial profits.

The scammers gradually gain the trust of their victims by rewarding them with small "profit payments" and then persuade them to increase their investments, often encouraging them to take out loans. The ultimate goal is to gain control of the victims' accounts and transfer all funds to their own crypto wallets. This sophisticated scheme highlights the growing sophistication of crypto-related fraud and the need for increased vigilance among potential investors.

This raid and the subsequent warning underscore the Russian government's commitment to cracking down on illegal crypto activities and protecting citizens from fraudulent schemes. The confiscation of mining rigs and the ongoing search for the operators send a clear message that such activities will not be tolerated. The warning about the new scam serves as a reminder of the risks associated with crypto investments and the importance of due diligence.