Home / Crime and Justice / Mexico's Cartels Go Digital: Secret Crypto Farms Uncovered
Mexico's Cartels Go Digital: Secret Crypto Farms Uncovered
12 Sep
Summary
- Authorities discovered a clandestine crypto farm with 300 GPUs.
- Organized crime groups are using crypto mining for money laundering.
- These operations likely exploit cheap or stolen electricity.
Authorities in Mexico have uncovered a clandestine cryptocurrency farm nestled in the Sierra Norte region of Puebla state, signaling a new dimension in organized crime's financial activities. The operation, discovered due to its significant electricity consumption and unusual mechanical noise, housed 300 graphics processing units. This sophisticated setup is believed to be involved in mining virtual coins, potentially to launder illicit funds, a tactic that security analysts suggest requires considerable technical expertise and substantial financial backing from cartels.
This finding is part of a growing trend where Latin American cartels are increasingly leveraging cryptocurrency for money laundering. The Puebla operation is the fourth such farm found in the area since early last year. These mining endeavors are characterized by their immense energy demands, often relying on access to very cheap electricity or, as suspected in this case, the theft of power from local grids, potentially a nearby hydroelectric dam. Investigations are ongoing to determine the full extent of this criminal enterprise and its methods of operation.
