Sars seizes Bitcoin mining hardware worth R10 million

[Hanno Labuschagne]

Sars seizes Bitcoin mining hardware worth R10 million

Police and South African Revenue Service (SARS) agents raided an unauthorised warehouse in Vryburg, North West, on Thursday, 4 May 2023, confiscating Bitcoin mining equipment and illegally-manufactured alcohol.

In its statement announcing the successful raid, SARS said the Bitcoin miners were illegally connected to Vryburg’s electrical grid.

 

[r00igev@@r]

Was there a Lenovo?

 

[lkpat]

Taxis
Taxi industry

Now go get em!

 

[StBlade]

SARS would so love to get their greasy paws into Bitcoin. Cadres must eat.

 

[NarrowBandFtw]

the headline though ... baity and clicky ...

from the article:

In an interview with Bruce Whitfield on 702’s The Money Show, Kieswetter explained that seizing Bitcoin mining equipment was incidental.

and SARS' own headline:

SARS conducts raid at an unregistered warehouse

basically nothing to do with crypto and everything to do with illegal booze and electricity theft

 

[lkpat]

basically nothing to do with crypto and everything to do with illegal booze and electricity theft

Why nothing to do with crypto? There were literally a bunch of miners using illegal electricity to make money for the pirates. Effectively stealing your tax money and converting it to crypto. Grief people.

 

[whatwhat]

Why nothing to do with crypto? There were literally a bunch of miners using illegal electricity to make money for the pirates. Effectively stealing your tax money and converting it to crypto. Grief people.

The crypto mining was just found as an accident, that wasn't the intent of the raid.

 

[supersunbird]

Unauthorised/unregistered warehouse? They have to be authorised/registered?

 

[Speedster]

The crypto mining was just found as an accident, that wasn't the intent of the raid.

But it was still found. Your argument is akin to saying journalists shouldn't report it when authorities find 10 bodies in a drug raid.

 

[Mercury]

Unauthorised/unregistered warehouse? They have to be authorised/registered?

Yes, if alcoholic products are being manufactured or if they are being stored there without duty having been paid.

 

[Dolby]

Don't you need large amounts of power ... ?