Interpol announced over 1,000 arrests and $100 million seizure in a crackdown involving crypto miners and fraudsters. In Angola, 25 illegal crypto mining centers run by 60 Chinese nationals were dismantled, with equipment worth $37 million seized. Across Africa, 1,209 arrests were made, recovering over $97 million.

Zambian authorities dismantled a fraud scheme where 65,000 victims lost $300 million in promised high-yield returns on crypto investments. Angola, with power distribution issues, banned crypto mining in response to energy consumption concerns. Chinese embassy warned residents of criminalization of crypto mining in Angola.

Countries like Russia and New York have passed laws restricting or banning crypto mining due to energy concerns. In the US, mining laws vary by state, with Texas being a “friendly” area for mining operations. New York issued a two-year moratorium on proof-of-work mining in 2022.

Read more at Cointelegraph: Interpol Coordinates Crackdown On Illegal Angola-Based Crypto Miners