Mexico Seizes Crypto Mining Rigs, Forensic Accountants Investigate Funding

Forensic accountants in Mexico are working to identify who funded a large-scale cryptocurrency mining operation that was seized by authorities. The seizure took place at a remote property in Tlaola, where over 300 crypto mining machines were found.

The operation's electricity supply came directly from the Nuevo Necaxa dam, a federal hydroelectric complex. This was possible due to a large power connection on site, which investigators had been monitoring for signs of illegal activity.

Mexico's State security minister Francisco Sánchez said that noise and isolation gave away the mining operation. The site is located in the Sierra Norte, a rugged northern highland region of Puebla.

The seized units are Graphics Processing Units (GPUs), which rules out Bitcoin as the target cryptocurrency. Authorities have not yet confirmed what cryptocurrency was being mined at the site.