Russian man stole mining machines worth 18,000 euros
This August 27, 2021, a 34-year-old Russian man was convicted of theft by the prosecutor of the Zavolzhsky district prosecutor’s office. The man, a resident of Yaroslavl, stole machines for mining cryptocurrencies. The report of the prosecutor’s office does not specify whether it is equipment for mining Bitcoin (BTC ) or another digital currency.
“In February 2021, the convict, after breaking into his friend’s garage, stole computer equipment designed for the production of cryptocurrencies worth more than 1.6 million rubles,” the prosecutor’s office explained in a report published this August 27.
The loot thus amounted to 22,000 US dollars, or 18,648 euros. Unfortunately for him, the thief proved unable to use the stolen mining machines. In court, he admitted that he could not use the stolen equipment ” due to a lack of relevant knowledge”on the subject.
Are mining farms targets for thieves?
The thief then resolved to return the mining equipment to his friend. Despite his reversal, the Russian police were alerted. At the end of the trial, the man received a three-year suspended sentence.
However, the court granted a probationary period of three years. In effect, the person convicted by the court can avoid serving the sentence by complying with a series of conditions.
This is not the first time that criminals, driven by greed, have taken over mining machines. In 2018, the owners of a mining farm in Quebec were molested and sequestered by a gang of five kidnappers. The thieves loaded dozens of graphics cards dedicated to mining on board a truck.
Interviewed by the Quebec press at the time of the events, David Dubord, a cryptocurrency miner in the region, believed that mining farms have gradually become potential targets for criminals.
“Many are starting to think that they’re going to have to hire security guards to watch the facilities. You don’t want to put yourself on the spot. If you show that you have a lot of graphics cards, it’s because you make a lot of money, so you’re opening yourself up to that kind of thing,“ explained David Dubord in 2018.
This is even more true in 2021 with the shortage of computer components hitting the entire electronics industry. In this context of chronic shortage, graphics cards, which notably allow to mine Ether (ETH), have become a rare commodity. Graphics cards designed by AMD or Nvidia are selling for a premium on the second-hand market.
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About the author: Florian Bayard