Paraguay Cracks Down on Crypto Mining Theft
In a case that underscores both the burgeoning crypto mining scene in Paraguay and the security risks it presents, authorities have deported three individuals after a failed attempt to steal cryptocurrency mining equipment. The incident occurred at a facility belonging to Teratech SA, located near the country’s massive Itaipu hydroelectric dam, a popular hub for miners due to its abundance of renewable energy.
According to a statement from Paraguayan prosecutor Irene Rolón, the suspects, Jinping Duan, Tian Jianyun, and Zheng Guanglong, were apprehended shortly after breaking into a locked section of the Teratech facility. The three Chinese nationals were found to have no official entry records in Paraguay, leading authorities to believe they entered illegally through neighboring Brazil or Bolivia.
While the incident raises questions about the security measures in place at Teratech, it also highlights the growing appeal of Paraguay as a destination for crypto mining operations. The country’s abundant renewable energy resources, particularly from the Itaipu dam, provide a cost-effective power source for miners. However, this attraction is drawing not only legitimate miners but also opportunists seeking to capitalize on the lucrative industry.
Possible Links to Teratech
Investigators are exploring the possibility that the three deported individuals may have had connections to Teratech as independent contractors. Rolón indicated that they were believed to be working as programmers in Paraguay, but the exact nature of their relationship with the company remains unclear. Further investigations are underway to determine the extent of any potential ties between the suspects and Teratech.
A Fourth Suspect Faces Charges
While the three Chinese nationals were deported, a fourth individual, Paraguayan resident Nahun MarÃa Velázquez Garcete, was arrested in connection with the attempted theft. Garcete is suspected of being involved in a criminal organization and has been charged with aggravated theft. He remains in pretrial detention, having been hospitalized in critical condition following the arrest, though the nature of his injuries has not been publicly disclosed.
Ongoing Investigation
Paraguayan authorities are continuing their investigation, believing that additional individuals may have been involved in the attempted theft. The incident serves as a reminder of the challenges in securing cryptocurrency mining operations, particularly in environments where there is a high concentration of miners. As the industry continues to grow, ensuring the safety and security of both assets and individuals will become increasingly important.
