Russian sentenced to three years in prison for stealing friend's mining rig

Authorities in Russia’s Zavolzhsky District Found 34-Year-Old Local Man Guilty of Stealing Cryptocurrency Mining Equipment Worth Over 1.6...



Authorities in Russia’s Zavolzhsky District Found 34-Year-Old Local Man Guilty of Stealing Cryptocurrency Mining Equipment Worth Over 1.6 Million Rubles (Nearly $ 22,000) .

According to report shared by the Yaroslavl region prosecutor’s office, the state prosecutor confirmed that the Yaroslavl resident was found illegally entering a friend’s garage in February 2021 and stealing his mining equipment intended for use in earning cryptocurrency.

Authorities said the Russian man was guilty of committing a crime, citing large-scale property theft and illegal entry.

In court, the convict reportedly admitted the charges and voluntarily returned the stolen crypto mining equipment to its original owner. In addition, he also admitted in court that he could not use the stolen equipment for mining due to “lack of relevant knowledge”.

Based on the findings, the court sentenced the man to “a three-year suspended prison sentence as well as a three-year probation period.” This allows the defendant to have their case rejected without an actual prison sentence, since they meet all the conditions of probation.

Related: Russia grants $ 200,000 to create crypto transaction tracing tool

On August 4, the Russian authorities announced to allocate 14.7 million rubles ($ 200,000) to the creation of systems for monitor and analyze crypto transactions related to Bitcoin (BTC).

As Cointelegraph reported, the Russian Federal Financial Supervisory Service (Rosfinmonitoring) outsourced the work to RCO, a company indirectly backed by Sber, formerly known as Sberbank.

Russia has already invested in a analysis system to track illegal activities by “partially reducing the anonymity” of crypto transactions for Bitcoin, Ether (ETH), Omni (OMNI) as well as privacy-focused cryptocurrencies like Dash (HYPHEN) and Monero (XMR).