Cryptocurrency

Ukraine Police Employees Secretly Set Up Cryptocurrency Mining Farm

In a shocking turn of events, few Ukraine Police officers of the National Police of Ukraine have been caught red-handed for mining cryptocurrencies for the past four months.

The Rivne City Court said in a resolution that the Ukraine police officers, in their workplace had set up a cryptocurrency mining farm and were engaged in mining of the cryptocurrencies for four months. The officers worked from their e Rivne Oblast regional police headquarters’ Communications Department. This information was mentioned in the Rivne City Court document number No. 569/8710/18.

According to the criminal proceedings, the Ukraine police officials are held responsible for stealing electricity with the sole purpose of mining cryptocurrency. The employees are accused of taking advantage of their official positions, thereby causing immense damage to the department. However, the details of the cryptocurrency being mined and also the amount of stolen electricity are not yet known.

The court has seized 2 hard drives, 8 video cards, a system unit, wooden frame, a motherboard and 8 video cards.

Even though cryptocurrency mining is legal in Ukraine, the legal and regulatory status of it is yet to be decided. This was announced in draft legislation from the Ukrainian parliament which was released last week. The Ukrainian National Securities and Stock Commission had earlier stated that they plan to recognize cryptocurrencies as a financial instrument.

Investigation by Ukraine Police

Reports of theft and crypto mining are becoming increasingly common at the workplace. In the past too, two Russian engineers were arrested for bitcoin mining at the nuclear research center. The CEO of Sberbank Herman Gref also accepted that his employees were also caught mining cryptocurrency.

The arrest of the Ukraine Police Officers adds to the list of people and officials being caught engaging in cryptocurrency mining at work. Reports of crypto extortion is also increasing by the day. This is a grave situation which needs to be addressed as soon as possible before it goes out of control

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Smitha Nambiar is a highly experienced writer who believes in heavy research. She keeps looking for new updates related to cryptocurrency and helps her readers know about it.

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