Nizhny Novgorod Miner Loses Over $130,000 to Theft

  • Ultramining.com
  • 31 March, 2023 21:17
Nizhny Novgorod Miner Loses Over $130,000 to Theft

Police in Nizhny Novgorod, Russia, are investigating a case where a 29-year-old miner reported the theft of more than 10 million rubles (over $130,000) worth of Bitcoin, according to the regional Interior Ministry’s press service.

The miner stated that he was transferring Bitcoin from his online wallet through an application to a service for renting mining power and deposit account replenishment. He failed to notice the alteration of the address and the amount of funds being sent, resulting in a loss of 4.705 BTC (over 10 million rubles).

Law enforcement officers are conducting an investigation, and a procedural decision will be made based on the findings.

Previously, a man in Moscow deceitfully acquired 17 million rubles (approximately $224,000) from an acquaintance by claiming he needed the funds to purchase cryptocurrency mining equipment. The suspect wrote two promissory notes but failed to return the money, leading the victim to report the incident to the police. The suspect was arrested and admitted to using the funds to repay his existing debts. He now faces up to 10 years in prison for fraud. 

The incident highlights the growing number of crypto-related crimes and the susceptibility of victims who are lured by the promise of quick returns on their investments.

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