cryptocurrency mining

The Security Directorates Support Apparatus in eastern Libya announced the seizure of more than 1,000 Bitcoin mining devices in Benghazi, saying that the mining hub that was located in eastern Al-Salmani area contained more than 1000 devices for mining cryptocurrencies, which were earning approximately $45,000 per month.

The Apparatus indicated that the raid on the place resulted in the confiscation of all existing devices, internet and electricity equipment that were damaging the electrical network, stressing that efforts were ongoing to find those responsible for this illegal activity to bring them to justice.

In 2018, the Central Bank of Libya banned dealing in cryptocurrency such as Bitcoin, and confirmed that they were illegal currencies in Libya, adding that there was no legal protection for those who dealt with them.

During the past year, the authorities in Tripoli, Misrata, and Zliten were able to seize several sites used for mining cryptocurrencies, confiscate thousands of devices, and arrest dozens of people, including Chinese nationals.

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