Interpol, the global policing body, has reported a major international operation resulting in over a thousand arrests and the recovery of approximately $100 million. The sweep targeted cybercrime activities including illicit cryptocurrency mining operations and various fraud schemes.
According to a statement released Friday, Interpol collaborated with Angolan authorities to shut down 25 illegal cryptocurrency mining facilities. These operations were being conducted by 60 Chinese citizens.
Authorities confiscated equipment valued at over $37 million. The Angolan government intends to allocate these recovered assets to support communities in need.
The Angolan mining crackdown was part of a broader initiative targeting cybercrime across numerous African nations. This widespread operation led to the apprehension of 1,209 individuals and the reclamation of funds exceeding $97 million.
In a separate case, officials in Zambia reported disrupting a fraudulent investment scheme. This scheme defrauded approximately 65,000 victims of around $300 million, falsely promising substantial returns on cryptocurrency investments.
Angola, a nation of approximately 39 million people, struggles with electrical grid capacity and distribution, a factor that contributed to the clampdown on cryptocurrency mining. While the use of digital currencies isn’t inherently unlawful in Angola, a ban on mining activities was instituted in April 2024, citing the sector’s intensive energy consumption.
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A translated public notice from the Chinese embassy in Angola, dated April 2024, alerted citizens to the mining prohibition. It specified that “the law criminalizes cryptocurrency mining, and possession of information, communications, and infrastructure equipment used for virtual currency ‘mining’ is punishable by one to five years’ imprisonment and confiscation of the equipment.”
Crypto Mining Crackdowns Driven by Power Concerns
Numerous countries have implemented regulations restricting or outright prohibiting cryptocurrency mining enterprises because of worries regarding the strain on national energy resources. For instance, in Russia’s Republic of Buryatia, a clandestine mining operation involving 95 mining devices and a portable transformer was discovered hidden within a truck, illegally drawing power from the grid.
Within the United States, cryptocurrency mining laws are determined on a state-by-state basis. This has led to the emergence of “crypto-friendly” states like Texas, where companies like MARA Holdings, Riot Platforms, and CleanSpark operate. By contrast, in 2022, the state of New York enacted a two-year moratorium on proof-of-work cryptocurrency mining activities.
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