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Underground Crypto Mining Farm Raided in St. Petersburg as ‘Crypto Trading Scam’ Sweeps Russia

2025-07-01 23:42:11

Main Idea

Russian authorities raided an underground crypto mining farm in St. Petersburg, confiscating equipment and warning about a new crypto-themed scam involving foreign call centers.

Key Points

1. Officers in St. Petersburg confiscated equipment from an underground crypto mining farm that caused 10 million rubles ($127,873) in damages to the city's power supply.

2. The Russian Ministry of Internal Affairs warned about a new crypto-themed fraud scheme using foreign call centers to scam victims by promising high returns on small investments.

3. Scammers gradually increase victims' stakes, often leading them to take out loans, before transferring all funds to their own crypto wallets under the guise of profit payouts.

4. The ministry highlighted that fraudsters pose as employees of prestigious institutions or major financial firms to gain victims' trust.

5. A Moscow court recently jailed an influencer known as Bitmama for seven years for masterminding a crypto-related fraud network.

Description

Russian police have shut down an illegal crypto mining farm operating in an industrial zone in St. Petersburg, as the internal affairs ministry has warned of a new crypto trading-themed scam . Per the media outlet RBC , officers in Russia’s second city confiscated an undisclosed number of crypto mining rigs from a warehouse in the zone, off the iconic Mitrofanievsky Highway. St. Petersburg: Crypto Mining Farm ‘Liquidated’ St. Petersburg emergency forces officials shared images of the farm, which...

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