Brazil's Comando Vermelho's Crypto Mining Operation: Electricity Theft and Digital Value Production
— CryptoSlate
The crypto mining facility linked to Comando Vermelho in Rio de Janeiro combines electricity theft with digital value production.
A police operation in Rio de Janeiro uncovered a crypto mining setup linked to the Comando Vermelho gang, powered by stolen electricity.
- Police discovered a crypto mining facility with 30 computers operating from a clandestine electrical connection; the setup raises concerns about organized crime's use of digital currency.
- Brazil's electricity regulator ANEEL reported that energy theft and non-technical losses cost the country approximately $2 billion in 2024, with Rio de Janeiro among the highest theft regions.
Reducing energy costs for crypto mining enhances organized crime's ability to generate digital value, allowing them to move beyond traditional revenue streams.