Illegal Crypto Mining Operation Discovered in Russian Village

Authorities in the Russian village of Atamanovka have uncovered an illegal cryptocurrency mining operation that reportedly stole 711,000 rubles, equivalent to approximately $9,000, in electricity from the local power grid. According to NS3.AI, officials have noted that illegal miners collectively steal millions of dollars worth of electricity annually. In 2024, a law signed by President Vladimir Putin formally permitted cryptocurrency mining but restricted it to approved domestic legal entities, effectively banning foreign operators from engaging in such activities.