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Economy 2019-07-15T05:05:11+03:00
Ukrainian news
SBU Detects Cryptocurrency Mining Farms In Separatist-Held DPR, LPR Territories

SBU Detects Cryptocurrency Mining Farms In Separatist-Held DPR, LPR Territories

The Security Service of Ukraine (SBU) has detected several locations of cryptocurrency mining in the territories controlled by separatist Donetsk and Luhansk People’s Republics.

Head of the SBU Information Security Department Oleksandr Klimchuk has said this in a statement, Ukrainian News Agency reports.

In particular, Klimchuk said that militants in Donbas, where banks do not operate, have only two sources of financing: contraband and cryptocurrency mining.

The SBU established that separatists managed to obtain a significant amount of cash by converting Bitcoin.

The separatists spent the funds on armament, payment of salaries to armed forces and information campaigns.

As Ukrainian News Agency earlier reported, law enforcers seized 400 mining farms located on premises of the Kvazar company (Kyiv) that provided financing to militants in Donbas.

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