The Russian Bitcoin Miner is afraid that a new mining registry can lead to security violations.

The Russian Bitcoin miners are concerned about the government’s orders that require a wallet address in the national registration.

Russian clinic Anton Gorelkin emphasized this concern in the February 7th telegram post. He explained such scenarios as a major threat because sanctions could seriously affect mining operation.

According to him:

“The Russian miners are concerned about the safety of very sensitive data collected by the state as part of the new regulations (e.g. password wallet number). The leakage of information about the wallet can be a big gift. Our designated scientific opponents. ”

Despite this worry, Russian tax authorities told Gorelkin that the registry was kept in a safe internal system with strict access control. Officials have a minimal risk of leaks, but skepticism remains as cyber security experts often emphasize that the system is not entirely immune to infringement.

Gorelkin said:

“The federal tax service guarantees that information on the mined cryptocurrency and identifier address is stored in a separate internal security system, and the access authority is seriously limited within the institution and is almost impossible to obtain from the outside.”

Bitcoin mining has become a profitable business in Russia, and this problem arises as the demand for industrial mining equipment in Russia has tripled in 2024.

However, the authorities also triggered to collect information about these miners and are now trying to introduce a national registry for encryption mining equipment. This move will forcibly enroll in all mining activities to add another government investigation class.

Russian sanctions

Western countries, including the United States, have a great restriction on the Russian economy and blocks access to traditional financial networks. These measures have reached major industries such as energy, trade and technology.

Last month, the US Treasury introduced a new sanctions to reduce Russia’s energy income. The sanctions will block two active liquefied natural gas projects, large Russian oil projects and three organizations that support energy exports to Russia.