Russian grid company Rosseti: $14.2 million loss in 2024 due to illegal cryptocurrency mining

ChainCatcher news, according to The Block, the Russian power grid company Rosseti Group disclosed that in 2024, losses due to illegal cryptocurrency mining will exceed 1.3 billion rubles (approximately 14.2 million USD). Among them, the North Caucasus region suffered the most significant losses, exceeding 600 million rubles; the Novosibirsk region incurred losses of 400 million rubles.

The company has investigated 130 cases of unauthorized access and electricity theft, with the largest case occurring in Novosibirsk, involving 3,200 mining devices and resulting in a loss of 197 million rubles. Currently, over 40 cases are being prosecuted under Russian criminal law.