A Russian man got a three-year sentence after stealing his friend’s mining rig but he was unable to make use of this theft due to his lack of knowledge, so let’s read more in our latest crypto news today.
Authorities from the Zavolzhsky district in Russia found a 34-year old Russian man stealing crypto mining rig worth more than $22,000. the state prosecutor confirmed that the man was found entering a friend’s garage unlawfully back in February 2021 and stole his friend’s mining equipment that was intended to be used for earning crypto. The authorities found that the Russian man was guilty of committing a crime and cited large-scale theft of illegal entry and property.
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In court, the convict reportedly admitted to the charges and returned the stolen crypto mining equipment back to the original owner and he also admitted to the court that will now use the stolen equipment for mining due to the lack of relevant knowledge. Based on the findings, the court convicted the man to three years of suspended sentence alogn with the probation period of three years which allows the defendant to have the case dismissed without actual jail time given the compliance with the terms of probation.
The Russian authorities announced an allocate 14.7 million rubles for crating systems to minority and analyze BTC-related crypto transactions. The Russian Federal Financial Monitoring Service contracted the job to RCO which is a company indirectly backed by Sber or known as Sberbank. Russia invested in an analytics system to track illicit activities by partially reducing anonymity of transactions for BTC, ETH as well as privacy-focused cryptos like Monero or Dash.
As recently reported, Elvira Nabiullina who is the Russia Central Bank head cautioned the investors to beware of the risks of investing in crypto and opined that digital assets are volatile and warned of appalling losses. The head of the Russian Central Bank shared her opinion on whether people should enter the market. On the other hand, Nabiullina backed up the bank deposits as a good option for investors to stake funds and added that people should be really careful and measure the risks. The central bank opined that virtual assets will be the future of the financial world but still believes that the central bank digital currencies and not crypto like BTC will be the new innovation.
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