A security strike .. the Ministry of the Interior seizes a gang promoting virtual currencies – the seventh day

The security services succeeded in seizing a gang formation that specialized in promoting virtual currencies and the devices used to create them, in continuation of the efforts of the Ministry of Interior agencies to combat crime in all its forms, especially the crimes of “virtual” encrypted digital currencies because of their negative effects on the country’s national economy.

Information and investigations by the General Department for Combating Public Funds Crimes in the Anti-Public Funds Crimes and Organized Crime sector confirmed that two people residing in Giza governorate formed a gang that specialized in buying and selling virtual currencies and the devices used to create them. As a cover for their criminal activity in storing and marketing equipment and devices needed to create digital currencies.. They rented an apartment in the Boulaq El-Dakrour Police Department in Giza, and used it as a headquarters to place computers and operate them as a mining farm to create encrypted virtual currencies for resale to citizens and to equip the apartment with cooling devices and electrical connections to steal electricity.

After codifying the procedures, the suspects were arrested when they were present at the Agouza Police Department in Giza, and by searching the aforementioned store, (3 computers – a “laptop” device used in the mining of virtual currencies – 10 pieces of a graphics card used as one of the components of the mining network – Mobile phones of different brands – a sum of money from the proceeds of their criminal activity.

By inspecting the apartment in the Boulaq El-Dakrour Police Department, it was found that there are three rooms equipped as mining farms for virtual currencies. Inside were 3 large electronic platforms containing 45 screen cards used to increase mining capacity and the creation of digital currencies – 10 electric power supplies for mining devices – a computer with its contents – 10 electric cooling devices) in addition to a quantity of electrical connections to connect and connect the components of the mining network to the public electric current in an illegal manner.. due to the need for these devices for large electric capacities of the electric current and their evasion from paying the money owed to the state for consuming the electric current.

By examining the seized devices with the knowledge of the Technical Research Department in the administration, it was found that there is a (a financial wallet with a platform containing an amount of 40 thousand US dollars in the account of one of the accused – several financial wallets on virtual currency trading platforms with a value of 60 thousand US dollars from the proceeds of their criminal activity in mining those currencies – the computer containing: Programs for mining operations – as well as text conversations on social media programs that confirm their criminal activity).

By confronting the accused, they admitted that they had engaged in this criminal activity as indicated, and legal measures were taken.


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