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70 raids, 40 arrested for stealing electricity to mine cryptocurrency

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Key facts:
  • The company had stolen cables and falsified electricity consumption records.

  • In September alone, AFIP has already disconnected more than 800 pieces of mining equipment.

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The Federal Administration of Public Revenue (AFIP), Argentina’s government agency, conducted an operation in which it uncovered illicit electricity consumption related to cryptocurrency mining.

In total, 70 raids were carried out, 40 people were arrested and dismantled a mining company in Buenos Aires province, the Argentine government reported in a note published on its website.

According to the same government, the farm operated with stolen cables and “recovered” electricity consumption levels. tampering with meters. “Wires and different types of connectors were found that were allegedly used to reduce the high operating costs of the business by stealing electricity,” the memo reads.

Argentine government operations related to the cryptocurrency mining verify “the existence of corresponding documentation of equipment import and the proper recording of both mining activity and income received,” according to the statement.

It should be noted that in this case there is no reference to the illegal origin of the equipment or lack of registration.. Nor is mining itself mentioned as a crime, but the theft and concealment of electricity consumption levels. That is, the evasion of payment for such consumption.

So far, for this year 2022, AFIP has already. disconnected mining equipment on several occasions. In September alone, the more than 800 machines offline, as we reported in CryptoNews.

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Among the most recent cases was the posting of a farm where the equipment whose entry (import) into the South American country was used. has not been declared by its owners.

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