Customs Agents Seize Crypto Mining Units Smuggled out of Mongolia

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The Federal Customs Service of the Russian Federation stopped the illegal import of four crypto mining devices from Mongolia into Russia.

Crypto mining equipment confiscated

On Oct. 1 Coinspot reported that a Mongolian citizen was trying to smuggle the four mining devices with fans and connected microcircuits across the Russian/Mongolian border into Russian territory.

The custom services explained that the smuggler was detained by Altai customs officers during a border check in the rural locality Tashanta. The detainee couldn’t provide any legal documents for the crypto mining equipment, which was then confiscated by the authorities.

Criminals rarely use crypto to withdraw stolen money

Cointelegraph reported in June that Artem Sychev, the first deputy director of the Information Security Department of the Bank of Russia, said that fraudsters rarely use cryptocurrency to withdraw stolen money.

The country’s central bank stated that criminals prefer to cash out stolen money rather than withdraw it with digital currency. Sychev said:

“In the Russian Federation, this [withdrawing of stolen funds with crypto] is used very rarely. Yes, sometimes cryptocurrencies are used to withdraw funds, but now it is not widespread, because it is much easier for an attacker to get cash.»