Interpol, the global police agency, revealed over 1,000 detentions and the confiscation of approximately $100 million during a coordinated operation targeting cryptocurrency mining activities and financial scams.
A Friday statement from Interpol detailed collaboration with Angolan officials to shut down 25 unauthorized crypto mining facilities operated by 60 Chinese citizens.
Authorities reportedly recovered machinery valued at over $37 million, earmarked by Angola’s government for allocation to “communities in need.”
This action formed part of a broader cybercrime initiative across Africa, leading to 1,209 arrests and the retrieval of nearly $97 million in assets.
Zambian officials additionally uncovered an investment fraud network affecting 65,000 individuals, who collectively lost roughly $300 million after being enticed by promises of lucrative crypto returns.
Angola, home to 39 million residents, grapples with severe electricity shortages, prompting strict measures against energy-intensive crypto mining. While digital currency usage isn’t explicitly prohibited, the nation enforced a mining prohibition in April 2024 to address power consumption concerns.
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“Cryptocurrency mining is criminalized under Angolan law, with possession of mining-related tools or infrastructure carrying penalties of 1–5 years imprisonment and asset forfeiture,” stated a translated advisory from China’s embassy in Angola following the ban’s implementation.
Numerous nations have imposed limitations or outright bans on cryptocurrency mining due to strains on national power grids. Recent enforcement actions include Russia’s Buryatia region, where 95 mining devices and a mobile power unit were discovered illegally drawing electricity from a concealed truck.
In the United States, mining regulations vary by state, creating hubs like Texas where firms including MARA Holdings, Riot Platforms, and CleanSpark operate freely. Contrastingly, New York instituted a two-year prohibition on proof-of-work mining in 2022.
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Source: cryptonews.net
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