Russia | ForkLog

ForkLog 19 09.02.2024

Mongolian Citizen Caught Smuggling Mining Equipment from Russia

Customs officers at the MAPC Kyakhta in Buryatia thwarted an attempt to illegally export two ASIC miners to Mongolia. This was reported by the Federal Customs Service of Russia (FCS). According to the agency, a Mongolian citizen attempted to transport two used Watsminer M21 miners, manufactured by MicroBT, in a taxi. The devices were not […]

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ForkLog 24 09.02.2024

WEX Administrator Appeals for Leniency and Asset Return

On February 8th, the Moscow City Court began reviewing the appeal of Alexey Bilyuchenko (Ivanov), the system administrator of the cryptocurrency exchange WEX, against his previous conviction. This was reported by journalist Irek Murtazin on his Telegram channel. Bilyuchenko is accused of embezzling 3.1 billion rubles of WEX assets. In September 2023, the court of […]

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ForkLog 11 07.02.2024

Illegal Cryptocurrency Miners Uncovered in Former Boiler House Near Novosibirsk

In the Novosibirsk region, police officers, in collaboration with energy specialists, have shut down an illegal mining farm comprising 100 devices. This was reported by AO “RES”. The equipment was located in a building that once served as a boiler house in the settlement of Chernorechensky, near Iskitim. In addition to the connected ASIC miners, […]

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ForkLog 16 04.02.2024

Sber Grants Private Investors Access to Digital Financial Assets

Sber has opened its digital financial assets (DFA) platform to all individuals. Those who have obtained the status of a qualified investor in relation to DFAs are already conducting initial transactions. “In the first month after launching DFAs on the digital square meter index for a limited group of investors on our platform, about a […]

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ForkLog 60 03.02.2024

Illegal Mining Farm with 378 Devices Discovered in Dagestan

Police in the city of Kizilyurt uncovered illegally connected cryptocurrency mining equipment within an unnamed gardening association. This was reported by the press service of the Ministry of Internal Affairs for the Republic of Dagestan. The mining farm was located in an auxiliary room. Law enforcement seized 378 devices. “The connection to the power lines […]

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ForkLog 20 02.02.2024

Russia Proposes Amendments for Stablecoin Use in Foreign Trade

A group of deputies from the Communist Party faction has submitted a bill to the State Duma introducing the concept of a secured stablecoin and permitting its use in foreign trade transactions. The document is published in the parliamentary electronic database. The amendments are proposed for the law “On Digital Financial Assets” (“On DFA”) and […]

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ForkLog 20 01.02.2024

OKX Sees Fivefold Increase in Russian Traffic in 2023

By the end of 2023, traffic from Russia to the cryptocurrency exchange OKX surged by approximately 400%—from 250,000 to nearly 1.25 million visits. This is according to data from the analytics service SimilarWeb. Russia now ranks alongside Mexico and Japan as one of the top three countries driving traffic to OKX. The main surge began […]

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ForkLog 21 01.02.2024

Russia’s Bitcoin Mining Potential and Regulatory Critique

Cryptocurrency market regulation in Russia is progressing at a sluggish pace, despite the sector’s potential to contribute significantly to the national budget. This was highlighted by participants at the RBC-Crypto forum titled “Mining and Cryptocurrencies: Architecture of Growth.” According to the Industrial Mining Association, large data centers dedicated to cryptocurrency mining could provide liquidity for […]

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ForkLog 14 30.01.2024

Illegal Mining Farm Discovered in Unfinished House in Irkutsk Region

Police in the Irkutsk region conducted a raid in the village of Zalari, uncovering an illegal mining farm within the confines of an unfinished private house. The operation was prompted by a complaint from energy providers, who discovered that the building was illicitly connected to the power grid. A metal container on the site emitted […]

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ForkLog 37 29.01.2024

Russia Evaluates Potential Tax Revenue from Bitcoin Mining

The tax potential of mining in Russia, with the introduction of balanced regulation, is estimated at 50 billion rubles annually after 2025. This was reported by TASS, citing a statement from Sergey Bezdolov, Director of the Industrial Mining Association. According to his data, Russian miners consume about 2.5 GW of electrical power. Of this, 1.7 […]

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ForkLog 21 29.01.2024

Russian Linked to REvil Faces Sanctions from Three Nations

The United States, Australia, and the United Kingdom have imposed sanctions on Russian national Alexander Ermakov, held responsible for the hacking of Australian insurance company Medibank. The U.S. government claims that Ermakov and other participants in the attack are connected to the Russian-backed cybercriminal group REvil. According to OFAC, in October 2022, ransomware operators stole […]

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ForkLog 35 26.01.2024

Cryptocurrency Mining Farm with 620 Devices Discovered in Makhachkala Parking Garage

Police in Makhachkala, in collaboration with specialists from the Dagenergo branch, uncovered a cryptocurrency mining farm with 620 devices in the garage of an underground parking facility while investigating residents’ complaints about power surges in a multi-storey building. The equipment belonged to a 35-year-old local resident. An inspection revealed that he had connected the equipment […]

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