The Discovery of a Hidden Crypto Operation
It seems like some folks at Ukrzaliznytsya couldn’t resist the lure of Bitcoin, to the point where they allegedly started their own crypto hustle under the radar! Ukrainian Railways’ Lviv Railway branch was caught red-handed, or should we say, red-cabled, mining cryptocurrencies using the state’s electricity. According to an official announcement on November 15, this covert operation involved over 100 crypto mining devices, all busily churning out Bitcoin (BTC) while the country’s power grid was, quite frankly, getting ripped off.
How Much Did This Little Scheme Cost?
In an intriguing twist, the estimated losses from this illegal mining operation hit approximately one million Ukrainian hryvnias—roughly $40,700—just in 2019 alone. That’s a chunk of change that could’ve funded a few rail upgrades or train snacks for a month! Imagine how many people could have enjoyed their journeys on improved services instead of funding clandestine crypto mining!
Who’s Responsible for This Reckless Mining?
As it turns out, the masterminds behind this operation were not shadowy figures lurking in the night but officials from the Lviv Railway unit itself. Ukrzaliznytsia’s economic and information security department, along with local prosecutors, unearthed this operation, sparking a mix of outrage and disbelief. It’s ironic that these officials can keep the trains running on time but couldn’t keep their hands off the power grid!
Legal Repercussions and the State’s Response
After the discovery of this unethical activity, Ukrzaliznytsia reported that criminal proceedings have been initiated against those involved. The allegations have been forwarded to the Ternopil Police Department of the National Police in Ternopil Oblast. For a country where the issuance and circulation of cryptocurrency is banned, it seems these officials took a rather reckless approach to their digital ambitions.
The Bigger Picture: Crypto Regulations in Ukraine
All this drama underscores the fact that while cryptocurrency mining isn’t formally regulated in Ukraine, it certainly raises eyebrows across the board. Just a few years back, in August 2019, power plant operators faced arrest for similar offenses at a local nuclear facility. And here we are again, with another reminder that supervision is desperately needed in this growing field. Meanwhile, the State Service for Special Communication and Information Protection declared in 2018 they had no immediate plans to regulate mining. But wait, there’s more! In a surprising yet promising development, the Ukrainian government is in talks with major global crypto exchange Binance to lay down some laws. Let’s hope those talks lead to a better control scheme, so we don’t end up with a digital gold rush at the expense of our precious power grid!
