Mexico Uncovers Another Secret Crypto Farm in Cartel-Laundering Operation
Mexico's fight against organized crime has entered a new frontier as authorities uncover more clandestine cryptocurrency farms, with the latest operation located in the Sierra Norte region of Puebla state.
The farm, suspected of mining virtual coins to launder illicit funds, was discovered due to its massive electricity consumption, which far surpassed the needs of nearby communities. Authorities found 300 graphics processing units (GPUs), 80 medium-voltage terminals, and eight satellite antennae at the site.
Crypto mining represents a new area of concern for Mexico's authorities as it allows organized crime groups to extend their reach beyond drug trafficking and extortion into financial crime.
David Saucedo, a security analyst, stated that setting up such an operation would have required technical expertise and backing from a well-financed group, likely one of Mexico's most powerful cartels.