Hidden crypto farm in Mexican mountains puts spotlight on cartel funding
- A secret cryptocurrency mining farm was discovered in the mountains of Central Mexico near small communities in Puebla state, notable for its loud noise and high electricity use.
- The mining farm uses hundreds of computers and specialized equipment including 300 graphics processing units, 80 medium-voltage terminals, and satellite antennas designed to generate cryptocurrency.
- Authorities believe the site indicates involvement by organized crime groups in expanding into financial crimes such as cryptocurrency laundering.
- There is an ongoing investigation into whether electricity was stolen from a hydroelectric dam to power the mining operation.
9 Articles
9 Articles
The Independent
The Independent (US)Police find cartel crypto farm hidden in Mexican mountains
It is the fourth crypto farm uncovered in the area since early last year
Hidden crypto farm in Mexican mountains puts spotlight on cartel funding
By Sarah Morland and Daniel Becerril TLAOLA, Mexico, Sept 12 (Reuters) - Nestled in the lush green mountains of Central Mexico, next to a sparsely traveled gravel road, few people had reason to wander close enough to hear the loud, mechanical whirring ...
An unexpected discovery in the mountainous regions of Mexico is shedding light on new, sophisticated methods used by drug cartels to launder criminal proceeds, leveraging cryptocurrency technology. An illegal bitcoin mining “farm” has been discovered in Puebla, allegedly financed by cartels that launder millions by exploiting the theft of electricity.
The huge amount of electricity it consumed betrayed it to the authorities.
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