<ul><li>A former electric-grid executive in Russia lost roughly ₽7 million (about $88,570) in Bitcoin after law enforcement agents seized his stash for running mining rigs at home.</li><li>He allegedly stole over ₽3.5 million worth of electricity in 2024 to mine about 0.8414 BTC by bypassing a metering device.</li><li>Investigators found the illegal connection to the employer's grid facilities, multiple mining rigs set up in his residence, and amounts of Bitcoin worth ₽7 million at the time of seizure.</li><li>This case reflects Russia's crackdown on illegal crypto activity, where authorities are relying on existing laws to confiscate cryptocurrencies until a proposed draft law is passed to treat crypto assets as intangible property in criminal cases.</li></ul>

Russia’s War On Illegal Mining Heats Up With Bitcoin Raids

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