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Russian man will get three-year sentence for stealing a pal’s mining rig

Authorities from Russia’s Zavolzhsky district have discovered a 34-year-old native man responsible of stealing cryptocurrency mining gear value greater than 1.6 million rubles (almost $22,000).

In keeping with the report shared by the Prosecutor’s Workplace of the Yaroslavl Area, the state prosecutor confirmed that the Yaroslavl resident was discovered getting into a pal’s storage unlawfully again in Feb. 2021 and stealing their mining gear that was meant for use for incomes cryptocurrency.

The authorities discovered the Russian man to be responsible of committing a criminal offense, citing large-scale theft of property and unlawful entry.

In courtroom, the convict reportedly admitted to the fees and voluntarily returned the stolen crypto mining gear again to its unique proprietor. Moreover, he additionally admitted to the courtroom that he couldn’t use the stolen gear for mining as a result of “lack of related data.”

Primarily based on the findings, the courtroom convicted the person to “three years of a suspended sentence together with a probation interval of three years.” This permits the defendant to have their case dismissed with out precise jail time, given they adjust to all of the phrases of probation.

Associated: Russia grants $200K to construct device for tracing crypto transactions

On Aug. 4, Russian authorities introduced to allocate 14.7 million rubles ($200,000) for creating techniques to monitor and analyze Bitcoin (BTC)-related crypto transactions.

As Cointelegraph reported, the Russian Federal Monetary Monitoring Service (Rosfinmonitoring) has contracted the job to RCO, an organization not directly backed by Sber, previously often called Sberbank.

Russia has beforehand invested in an analytics system to trace illicit actions by “partially lowering anonymity” of crypto transactions for Bitcoin, Ether (ETH), Omni (OMNI) in addition to privacy-focused cryptocurrencies like Sprint (DASH) and Monero (XMR).