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Illegal Bitcoin, ETH mining farms in Pakistan shut down by FIA

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Pakistan's illegal Bitcoin, ETH mining farm shut down by FIA

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The Federal Investigation Agency (FIA) recently seized two cryptocurrency mining farms in the Shangla district of Khyber Pakhtunkhwa, one of the administrative provinces of Pakistan, as per a report. Two men were arrested by security forces as holding and trading cryptocurrency is banned in Pakistan.

The investigative officers said that the mining farms were installed illegally and dubbed them the country’s biggest cryptocurrency mining farm.

Officials also stated that the farm traded Bitcoin, Ethereum and other digital currencies overseas. The officers revealed that the farm had about 65 pieces of equipment installed and that there were a total of 780 channels operating from the farm. The firm reportedly had 65 servers and each server had 12 channels.

The Shangla DPO, according to another report, said that the suspects sold cryptocurrencies on websites, and took a commission on the same.

The FIA’s assistant director of cybercrime, Muhammad Rizwan, also stated that same suspects had been caught earlier in December 2018 with eight “Bitcoin machines” worth Rs 2 million.

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A Psychology and Journalism graduate, Rakshitha focuses on UK and Indian markets. As a crypto-journalist, her interests lie in blockchain technology adoption across emerging economies.
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