Home News Russian man gets three-year sentence for stealing a friend’s mining rig

Russian man gets three-year sentence for stealing a friend’s mining rig

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Russian man gets a three-year sentence for stealing a friend’s mining rig. Apparently, the 34-year-old convict was unable to utilize stolen mining equipment due to an “inadequacy of relevant knowledge”.

The Russian authorities have convicted a 34-year-old man of stealing crypto mining equipment worth more than 1.6 million Russian rubles (nearly $22,000).

Illegal entry and theft of property

The Yaroslavl Prosecutor’s Office reported that the Yaroslavl resident was caught breaking into a friend’s garage and stealing equipment intended for mining cryptocurrency back in February 2021. An investigation by the authorities found the Russian man guilty of illegal entry and theft of property.

In court, the now-condemned confessed to the charges. And voluntarily gave back the stolen crypto mining equipment to its original owner. Additionally, he acknowledged to the court that he could not use the stolen equipment because he did not have the relevant knowledge to do so.

Suspended sentence and a probation period

Based on the findings, the court sentenced the defendant to three years of a suspended sentence. Along with a probation period of three years. In this case, if the convict follows the terms of probation, the court will dismiss the case without actual confinement.

In an announcement on Aug. 4, Russian officials announced the allocation of 14.7 million rubles ($200,000) to create methods for monitoring and analyzing bitcoin-related transactions.

The Russian Federal Financial Monitoring Service addressed the job to RCO, a subsidiary company of Sber, formerly known as Sberbank.

In addition to Bitcoin (BTC), Ether (ETH), Omni, and privacy-focused cryptocurrencies such as Dash and Monero (XMR), Russia has previously invested in an analytics system to trace unlawful activities.

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