Bitcoin

Egyptian Man Arrested for Mining Ethereum in Badr City

Egyptian National Police (ENP) have smashed a mining farm for mining Ethereum cyrptocurrency and arrested a man in Badr City (located north east in the Cairo Governorate).

Ethereum (ETH) is just like Bitcoin, a cryptocurrency, that is a decentralised digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer Eth network without the need for intermediaries.

We were tipped off about the presence of a sophisticated computerized system at an address in Badr City that are being used to illegally mine cryptocurrencies

Quoted from the MOI’s press release

During Badr City’s mining farm raid, police have seized 19 mining rigs that were used in the “Illegal mining” operations. Mining farm is a data center, technically equipped with dedicated computers or miners to mine cryptocurrencies.

Badr City Mining Farm

One man was arrested on charges of money laundering through cryptocurrency.

Bitcoin and other cryptocurrencies are illegal in Egypt. It may still be possible for Egyptians to acquire Bitcoins through online cryptocurrency exchanges or by purchasing Bitcoins from Facebook and Telegram crypto groups, however, that would be illegal.

MOI Press Release Video

M. Ali

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at nabil@wibbic.com

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