Venezuelan Authorities Seize More Than 100 Miners From Clandestine Bitcoin Mining Operation

Venezuelan Authorities Seize More Than 100 Miners From Clandestine Bitcoin Mining Operation

Venezuelan authorities seized over a hundred mining machines in a residential area of a central state. According to reports, the mining farm was operating illegally without permits that the national cryptocurrency watchdog, Sunacrip, requires for these operations. The seizure was led by the national police, officers from the national power company, and personnel from Sunacrip. Venezuelan Mining Farm Seized by Authorities

Authorities seized over a hundred miners that were operating illegally in a clandestine farm located in a residential zone in Miranda, a central state in Venezuela. According to reports from local media, authorities located the farm due to the strain it was imposing on the power distribution system in the area. This prompted an inspection by the police and authorities from both the national power company (Corpoelec) and the national cryptocurrency watchdog (Sunacrip) to check for unreported mining activity.

The farm was dismantled and the mining equipment was seized by Sunacrip. Mining cryptocurrencies is a completely legal operation in Venezuela, but it requires a series of permits issued by Sunacrip designed to protect the electrical system from potential strains. However, due to past occurrences, some miners just choose to mine in an underground way, avoiding the oversight of Sunacrip, and giving opportunity for these events to happen.

Sunacrip has repeatedly made calls for miners to register with the organization, giving guarantees to miners. More Seizures Happening

This is not the only seizure these authorities have carried out in the state. 165 mining machines were seized from a warehouse in the same state, that also lacked the necessary permits to operate in the area. Like the most recent incident, this seizure was also a joint action of police forces and Sunacrip officers. This year, Sunacrip had to require that these visits should always be made in the company of a Sunacrip officer, to avoid possible irregularities in the inspection process.

Further, in June, more than 400 miners were seized due to a lack of permits when transporting the machines. The authorities confiscated the mining cargo at a road checkpoint.

But even registered Venezuelan miners have had problems with power company officers and Sunacrip before. In August, officers from the national power company cut the power supply to registered Bitcoin miners in strange circumstances in the state of Carabobo. Sunacrip was able to mediate between the affected parties, and miners were reconnected to the power grid after a week.

What do you think about the seizure of bitcoin mining machines in Venezuela? Tell us in the comments section below. Federal Security Service of Russia Seeks Powers to Obtain Information From Crypto Platforms NEWS | 20 hours ago Patreon Considers Allowing Creators to Use Crypto for Monetization NEWS | 23 hours ago Tags in this story Bitcoin, Corpoelec, Cryptocurrency, Miners, Seizure, Sunacrip, Venezuela

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