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Russian Police Arrest Suspect in $3.2M Illegal Mining Operation: Report
A similar mining scheme occurred in the region in 2022.
May 29, 2025, 3:30 p.m.
What to know:
- Russian police arrested a suspect involved in a crypto mining scheme that defrauded victims of 270 million rubles ($3.2 million).
- The suspect and two accomplices allegedly sold mining equipment they had been given for use in a "mining hotel" and kept the proceeds.
- Authorities opened a fraud case and are still searching for the other members of the group.
Russia police arrested a person alleged to have been involved in a crypto mining scam that stole 270 million rubles ($3.2 million) from 100 victims, RBC reported, citing a statement from the Ministry of Internal Affairs for the Irkutsk Region.
A local resident called the police in February to say he handed an ASIC mining machine to someone claiming that they were running a "mining hotel," with the promise of passive income. The 26-year-old suspect and two accomplices are alleged to have sold the equipment they received and also to have kept funds handed over the purchase of other mining machines.
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The police opened a criminal case of fraud against the suspect and continue to question the victims. The other members of the mining group are still wanted by authorities, the statement said.
A similar case occurred in 2022 when two people stole 2 million rubles after offering local citizens a fake mining hosting scheme.
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