3-year sentence for a Russian for the theft of a friend’s cryptocurrency mining equipment

3-year sentence for a Russian for the theft of a friend’s cryptocurrency mining equipment
The 34-year-old inmate was reportedly unable to use the stolen mining equipment due to “lack of proper knowledge”.

The authorities of the Russian Zavolzhsky district found the 34-year-old resident guilty of theft of cryptocurrency mining equipment worth more than 1.6 million Russian rubles (almost $ 22,000).

According to a report made available by the Public Prosecutor’s Office of the Jarosław Region, the prosecutor confirmed that the resident of Jarosław in February 2021 illegally entered a friend’s garage and stole his cryptocurrency mining equipment.

Authorities found the Russian guilty of a crime, citing large-scale property theft.

In court, the convict reportedly pleaded guilty and voluntarily returned the stolen equipment to its owner. In addition, he also admitted in court that he did not use the stolen equipment to mine cryptocurrencies due to “lack of appropriate knowledge”.

On the basis of the findings, the court sentenced the man to three years’ imprisonment, suspended for a three-year probation period. This allows the defendant to dismiss the case without actually serving a prison sentence.

On August 4, Russian authorities announced a commitment of 14.7 million rubles ($ 200,000) to develop systems to monitor and analyze crypto transactions associated with bitcoin.

As Cointelegraph reported, the Russian Federal Financial Monitoring Service commissioned the task to RCO, a company indirectly supported by Sber, formerly known as Sbierbank.

Russia has previously invested in an analytical system to track illegal activities by “partially reducing the anonymity” of crypto transactions for Bitcoin (BTC), Ether (ETH), Omni, as well as privacy-focused cryptocurrencies such as Dash and Monero (XMR).

02-09-2021, Mr Advice TEAM

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