Interpol, the global police organization, revealed a major international operation that resulted in over a thousand arrests and the confiscation of assets totaling approximately $100 million. The operation targeted a variety of criminal activities, including cryptocurrency mining schemes and fraudulent investment operations.

In a public statement released on Friday, Interpol announced its collaboration with Angolan authorities to shut down 25 unauthorized cryptocurrency mining facilities. These operations were allegedly being run by 60 Chinese citizens.

The seized equipment, valued at over $37 million, is slated to be redistributed by the Angolan government to communities in need.

The Angolan mining crackdown was a part of a larger cybercrime initiative spanning several African nations. This broader effort led to the apprehension of 1,209 individuals and the recovery of more than $97 million in illicit funds.

Authorities in Zambia also reported the disruption of a large-scale investment scam. This fraudulent scheme affected an estimated 65,000 victims who collectively lost around $300 million. They had been lured in by promises of substantial returns on their crypto investments.

Angola, a nation with a population close to 39 million, experiences significant challenges related to reliable power distribution. This power scarcity was a key factor in the decision to clamp down on cryptocurrency miners. While owning and trading cryptocurrencies is generally legal in Angola, mining activities were prohibited in April 2024 due to the high energy demands of the process.

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A translated notice from the Chinese embassy in Angola, issued in April 2024, stated that cryptocurrency mining is now a criminal offense. Possession of equipment or information used for crypto mining is punishable by imprisonment ranging from one to five years, and the equipment can be confiscated. The embassy advised Chinese residents in Angola to take note of the mining ban.

Crackdowns on Mining Stemming from Energy Concerns

Numerous countries across the globe have implemented regulations to limit or completely prohibit cryptocurrency mining operations because of concerns about the strain on local power grids. For instance, in Russia’s Republic of Buryatia, authorities discovered 95 mining devices and a portable transformer concealed within a truck, illegally drawing electricity from the grid.