Illegal Bitcoin Mining on the Rise in Tajikistan and Kazakhstan
Main Idea
Illegal cryptocurrency mining in Tajikistan and Kazakhstan has caused significant financial damages and energy misuse, with authorities reporting millions in losses and criminal cases.
Key Points
1. Illegal cryptocurrency mining in Tajikistan caused $3.52 million in damages in H1, with energy providers compensated by the state.
2. Tajikistan's Attorney General reported 190 criminal cases related to illegal mining since January, implicating 3,988 individuals and totaling $4.26 million in damages.
3. Kazakhstan also faces a cryptocurrency mining problem, with local energy companies illegally supplying over 50 MWh of electricity to mining enterprises, equivalent to the consumption of a city of 50,000.
4. Central Asia has seen a rise in mining activities after China banned cryptocurrency mining in 2021, with Kazakhstan experiencing a boost due to its proximity to China.
5. Sanctioned Russian actors have allegedly leveraged illicit mining in Kazakhstan and Tajikistan for sanctions evasion, according to TRM Labs.
Description
Illicit crypto mining outfits stealing electricity are becoming a growing problem for countries in Central Asia.
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