Venezuela shuts down crypto mining facilities, exchanges amid corruption probe

According to Venezuela’s attorney general office, government officials were running parallel oil operations with the assistance of the national crypto department. Venezuela’s energy supplier has shut down crypto mining facilities throughout the country as part of a reorganization of the national crypto department and ongoing corruption investigations involving the country’s oil company. According to local media reports, crypto mining companies, and tweets from Venezuela’s National Association of Cryptocurrencies, mining facilities were shut down in the past days in the states of Lara, Carabobo and Bolívar. It is unclear how many crypto firms were affected. Some crypto exchanges were also ordered to cease operations. The closure of crypto mining facilities is believed to be part of an ongoing investigation of corruption involving Venezuela’s oil company PDVSA and the country’s crypto department. Venezuela’s attorney general, Tarek William Saab, disclosed on March 25 that government officials were allegedly running parallel oil operations with the assistance of the national crypto department.