Libya: Dozens of Chinese citizens arrested for engaging in illegal cryptocurrency mining

ChainCatcher news, the Libyan Attorney General's office announced on Friday that Libyan authorities have arrested 50 Chinese citizens suspected of participating in illegal cryptocurrency mining activities in the city of Zliten. The statement said that these detainees were engaged in illegal cryptocurrency mining activities in an abandoned iron factory on the western coast of Libya.

Additionally, according to the Attorney General's office, 10 Chinese citizens were "caught in the act" and arrested in Misrata on Wednesday, with dozens of mining machines confiscated.

Despite an official ban, Libya remains the country with the highest proportion of cryptocurrency mining in Africa, accounting for about 0.6% of global Bitcoin production in 2021. Libya has become an ideal location for cryptocurrency mining due to its low electricity costs, at just $0.004 per kilowatt-hour, which is about 40 times cheaper than in the United States.

However, political instability has severely damaged Libya's power grid. Authorities are intensifying efforts to crack down on such activities and investigate other potential mining sites. (source link)