Russian Politician Wanted for Alleged Illegal Crypto Mining Scheme Worth 300 Million Rubles

Russian law enforcement has placed Alexey Boikov, a deputy of a local legislative assembly, on an international wanted list, accusing him of organizing large-scale illegal cryptocurrency mining activities and involvement in significant fraud. According to TASS, citing sources, the economic damage caused by the case is estimated at 300 million rubles. Investigations revealed that Boikov secretly constructed a mining farm with approximately 890 mining devices on land nominally leased for beekeeping. The facility consumed a massive amount of electricity, severely violating local energy usage regulations. In recent years, the number of illegal mining cases in Russia has been steadily increasing, and authorities have strengthened the supervision of mining farms and crypto infrastructure, with law enforcement actions becoming more frequent.

Currently, one of Boikov's accomplices has been detained in a pre-trial detention center, and the case is being investigated under the charge of "large-scale fraud." If convicted, the maximum penalty is ten years in prison. Boikov's legal team stated that he has not evaded investigation. Last autumn, he suffered a hypertensive crisis while traveling abroad with his family, and doctors advised continued treatment and temporarily prohibited air travel. Relevant medical certificates have been submitted to the investigating authorities. His team emphasized that the charges have not yet been proven, and placing him on the wanted list is premature, but Boikov has promised to cooperate with the investigation as soon as his health permits.

Currently, Boikov continues to perform his duties as a legislator remotely, serving as the head of the LDPR faction in the regional legislative assembly, a position he assumed in April 2024, replacing his predecessor who was arrested for bribery. This case has sparked widespread concern in the crypto industry regarding illegal mining activities. Although the global mining industry continues to expand, countries are gradually tightening regulations on compliance and energy use, and the risks of non-compliant operations are increasing.