Interpol recently announced that it has arrested over 1,000 suspects and seized approximately $100 million in a cybercrime crackdown, including illegal cryptocurrency miners.
This operation involved coordination among several African countries, with a strong focus on Angola and Zambia, where cryptocurrency mining and scams are causing significant harm to communities and the energy system.
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Interpol, in coordination with Angola, Zambia, and several African countries, has arrested over 1,200 suspects and seized nearly $100 million.
Angola dismantled 25 illegal cryptocurrency mining centers operated by 60 Chinese citizens, seizing equipment valued at over $37 million.
Zambia discovered a $300 million scam with over 65,000 victims involved in cryptocurrency investment.
How many suspects has Interpol arrested in this operation?
Interpol reported that a total of 1,209 people were arrested in a crackdown on cybercrime spanning several African countries.
This figure indicates that the scale of cryptocurrency-related criminal activities in the region is at an alarming level. According to reports, the total value of seized assets amounts to over $97 million, reflecting the extent and serious damage.
What actions has Angola taken against cryptocurrency mining activities?
Angolan authorities dismantled 25 illegal cryptocurrency mining centers operated by 60 Chinese citizens.
The seized mining equipment is estimated to be worth over $37 million. The Angolan government plans to allocate this equipment to vulnerable areas to better serve community needs.
"The law criminalizes cryptocurrency mining activities, and possession of related equipment can lead to imprisonment of one to five years, along with confiscation."
– Announcement from the Chinese Embassy in Angola, April 2024
Why did Angola ban cryptocurrency mining?
The ban on cryptocurrency mining in Angola will take effect from April 2024 in response to severe electricity shortages.
With a population of about 39 million, Angola still faces many difficulties in distributing and supplying electricity. Energy-consuming cryptocurrency mining has exacerbated the problem, forcing the government to take decisive action.
How was the large cryptocurrency scam in Zambia discovered?
In Zambia, authorities dismantled a scam system that caused over 65,000 victims to lose a total of approximately $300 million.
Victims were promised high returns on cryptocurrency investments, but this was essentially a scam model. This incident reflects significant risks when investors are not adequately equipped with knowledge and are lured by unrealistic profits.
How have other countries reacted to concerns about cryptocurrency mining?
Many countries have implemented policies to ban or restrict mining to protect electrical supply and national energy security.
For example, in Russia, authorities once discovered 95 mining machines and a mobile transformer hidden in a truck to steal electricity. Meanwhile, in the US, each state has the right to decide its own mining policy, with Texas becoming a "friendly" destination for companies like MARA Holdings, Riot Platforms, and CleanSpark. However, New York imposed a ban on mining under the Proof-of-Work mechanism for two years starting in 2022.
Frequently Asked Questions
How much money has Interpol seized in this operation?
A total of approximately $100 million was seized throughout the entire operation.
Is cryptocurrency mining still legal in Angola?
No, since April 2024, Angola has banned cryptocurrency mining due to concerns about energy consumption.
How will the seized equipment from mining operations be handled?
The Angolan government stated that equipment valued at over $37 million will be allocated to vulnerable areas.
How much damage did the scam in Zambia cause?
More than 65,000 victims were scammed out of a total of approximately $300 million.
Does the US ban cryptocurrency mining?
No, but each state has its own laws. Texas encourages mining, while New York imposed a two-year moratorium starting in 2022.
Source: https://tintucbitcoin.com/interpol-phoi-hop-tran-ap-tho-dao-tien-dien-tu-trai-phep-tai-angola/
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