Illegal Bitcoin Mining Operation and R3.8 Million Alcohol Seized in South African Raid
South African Revenue Service (SARS) and South African Police Service (SAPS) officials raided an unauthorized warehouse in Vryburg, North-West on Thursday, seizing bitcoin mining equipment and illegally manufactured alcohol worth millions of rands. The warehouse was used to connect the cryptocurrency mining equipment to the town’s electrical power supply, bypassing authorization.
According to a SARS statement, the warehouse contained 14,617 bottles of duty-free liquor and popular local brands. The confiscated bitcoin mining equipment is valued at approximately R10 million, while the alcohol is estimated to be worth R3.8 million. State-of-the-art equipment was found in the warehouse, facilitating the criminal activities. One foreign national was arrested during the raid.
SARS Commissioner Edward Kieswetter praised the ongoing cooperation between SARS and SAPS in apprehending those involved in criminal activities. The tax body is currently investigating the case, and more arrests are expected. The raid aligns with SARS’ decision to act more vigilantly against unregistered taxpayers conducting business and protect legitimate businesses from unfair competition.