Kazakhstan Uncovers $16.5M Electricity Fraud Involving Crypto Miners
I report that Kazakhstan has uncovered a $16.5 million electricity fraud case linked to cryptocurrency miners. According to Bitcoin.com News, an energy company illegally supplied power to mining operations over a two‑year period, violating rules that required miners to purchase surplus electricity through the Ministry of Energy’s platform.
This unlawful arrangement persisted for two full years, during which miners bypassed the official channels and the regulatory framework designed to manage surplus energy sales. The scheme highlights a breakdown in enforcement of energy and mining regulations in Kazakhstan’s crypto sector.
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