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Angola dismantled 41 clandestine cryptocurrency mining sites in ten months

Authorities have dismantled 41 clandestine cryptocurrency mining sites across the country in the last ten months and arrested at least 100 people, mostly Chinese, the Criminal Investigation Service (SIC) said on Monday.

: Facebook Serviço de Investigação Criminal de Angola - SIC
Facebook Serviço de Investigação Criminal de Angola - SIC  

The most recent case was disclosed this Monday by SIC, involving the seizure, in Luanda, of eight containers of cryptocurrency mining equipment, discovered in the Kilamba area, valued at almost 17 million dollars.

According to SIC spokesperson Manuel Halaiwa, the space, measuring 10 hectares, belongs to a Chinese citizen who is on the run.

Speaking to the press, Manuel Halaiwa said that the seized materials, high precision, used and new, total around 17,000 'panda mining' processors, valued between a thousand dollars, the old ones, and 1400 dollars, the new ones.

"If we look at what the logic of cryptocurrency mining centers has been, the material that is here would be enough to install around eight cryptocurrency mining centers, the size of the last one we dismantled," he said.

Manuel Halaiwa stressed that, presumably, the intention was to install a large-scale mining center there.

The SIC spokesperson highlighted that, as the SIC has intensified the fight against this illegal activity, those involved have looked for less suspicious locations, allowing "the current pressure to pass" and, in due time, installing a large-scale center there.

According to Manuel Halaiwa, cryptocurrency mining activity "is super profitable" and, if this center were to operate, the monthly income should be around 17 million dollars, calculating that each processor "can mine between 35 and 37 dollars/day".

The official emphasized that the State criminalized this activity, in legislation that came into force in April 2024, to safeguard its electrical and financial systems, for the crimes underlying this matter, appealing for the reporting of these cases.

Manuel Halaiwa stressed that, since April 2024, 41 clandestine cryptocurrency mining sites have been dismantled across the country, with more than 100 Chinese nationals and some Angolans involved in the activity of manning and protecting these infrastructures.

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