Illegal Cryptocurrency Mining Equipment Found At Ukraine’s Railway Facility

  • Free bitcoin mining without investment in the electricity
  • Status of cryptocurrency in Ukraine

Cryptocurrency mining equipment was busted at the Railway station in Ukrain country. It was not a legal way of Bitcoin mining. Mining hardware was set up in the Ukrainian city of Ternopil, in an empty building.

Yevhen Kravtsov, Ukrzaliznytsia CEO broke this news on Facebook. Some local boys of Ternopil arranged the bitcoin mining hardware of units of total 100.

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Free bitcoin mining without investment in the electricity

The local boys powered the mining hardware through the electricity of Railway. while hooking up to the power grid of Ukrzaliznytsia, they managed to bypass the electricity meter in the building. This eventually made free bitcoin mining without investment in the electricity.

“They saved themselves more than 1 million hryvnias ($40,000),” Kravtsov said. He also highlighted the ban on cryptocurrency in the country. This mining has been illegal and legal action has been proceeded.

Status of cryptocurrency in Ukraine

Since the announcement on November 30, 2017, Cryptocurrency is banned in Ukraine. financial regulators of Ukraine sated in a report cryptocurrencies cannot be classified as money, foreign currency, a means of payment, electronic money, securities, or a money surrogate.

On January 11, 2018, disallowed the uncontrolled turnover of cryptocurrency on its territory. The cybersecurity unit of the National Security and Defense Council took this action.

In the past month, Bitcoin.com reported about Ukrain is in rush to legalize Cryptocurrency in the country. Newly elected young president Volodymyr Zelensky took the interest to proceed against the ban on the decentralized currency.

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