Venezuelan Authorities Seized Bitcoin Miners in Prison Raid

In a recent operation targeting a prison under the control of criminal gangs, Venezuelan authorities have made significant seizures, including Bitcoin (BTC) mining equipment, rocket launchers, and grenades.

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The raid which involved over 11,000 police and soldiers, conducted at the notorious Tocoron prison, represents a significant step in the government’s efforts to crack down on criminal activities within its correctional facilities.

Notably, the Venezuelan government’s move to seize Bitcoin mining machines within the prison highlights the growing trend of cryptocurrency mining being used by criminals to generate income even behind bars. 

Venezuelan Authorities to Stop Criminal Gangs

The authorities also revealed that the notorious gang has turned the prison into a headquarters called the ‘little city’, where they have a nightclub, swimming pool, casino, and zoo. However, Nicolas Maduro, president of the Bolivarian Republic of Venezuela stated on X(formerly called Twitter) that the country will not tolerate criminal operations within its prisons, as it is heading towards a country free of criminal gangs.

Meanwhile, the operation is a positive step towards creating a safer and more secure environment within Venezuelan prisons while tackling the broader issue of criminal control behind bars. Also, it underscores the need for tighter regulation and monitoring of cryptocurrency activities within correctional institutions, as these machines can potentially fund illegal activities and pose security risks.

Venezuela Bans Crypto Mining

Recall that in June, reports revealed that Venezuela‘s temporary ban on mining cryptocurrencies within the country is effectively killing the industry that the president worked so hard to promote. 

Meanwhile, last year, the United States Department of Justice accused the Russian-Venezuelan group of operating a global network of money laundering, smuggling, and trade with blacklisted businesses, specifically the Venezuelan state-owned Petroleos de Venezuela, S.A. (PDVSA).

Argentina Uncovered Crypto Mining Farm

In a similar vein, the national tax authority of Argentina which is referred to as the Federal Administration of Public Revenues (AFIP) in Spanish uncovered an undeclared BTC mining farm that happened amidst a mega operations raid

Remarkably, AFIP began the crypto mining ransacking operations in September last year, particularly, in search of unregistered crypto miners. Still, in the same month, three undeclared crypto-mining sites were discovered by the team. Most of these sites are detected by their high electricity consumption level.

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