Authorities Uncover KZT 9 Billion Illegal Power Supply Scheme to Mining Farms in East Kazakhstan

The Financial Monitoring Agency (FMA) and National Security Committee (KNB) have exposed a multi-billion-tenge scheme in which power companies from East Kazakhstan secretly supplied electricity intended for households and social facilities to cryptocurrency mining farms, Orda.kz reports.

According to the FMA, the illegal supply lasted for two years.

In this case, the supplied amount exceeded 50 megawatt-hours — roughly what a city of 50–70 thousand people consumes in a year.

The illegal profit totaled 9 billion tenge. Investigators identified one person involved, who allegedly used the proceeds to purchase two apartments in Astana and four cars. The court has already seized the assets.

The investigation is ongoing.

Original Author: Ayanrafi Narikbaeva