An illicit cryptocurrency miner in Russia’s Far East allegedly stole $225,000 in electricity, causing major harm to a local grid. Such unauthorized access for mining is harmful to power networks, leading to heavy penalties. This incident underscores the increasing issue in the crypto mining space of unauthorized electricity consumption by illicit miners, posing threats to energy grids and overall security.
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Russia Forgoes National Crypto Exchange for Regulated Operations: Pros, Cons, and Market Impact
Russian authorities abandon plans for a national cryptocurrency exchange, focusing instead on establishing regulations for platform development and operations. This move, supported by the Ministry of Finance and Central Bank, aims to reduce risks and encourage crypto adoption in the country, while addressing market dominance and security concerns.