Federal Reserve (FED) · The Block
Mexican authorities raid hidden crypto mine, suspecting power theft and money laundering
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★ Tier-1 Source
Mexican authorities raided a covert crypto mining operation in Puebla, where they found hundreds of GPU chips in a remote mountain community, Saturday.
Key facts
- Chainalysis estimated that flagged illicit addresses received at least $154 billion in 2025, with the increase driven largely by officially sanctioned entities
- A separate Chainalysis study covered by The Block in 2023 also examined suspected money laundering through mining pools
- Federal prosecutors, the Mexican navy, and state security officers seized the property in Tlaola, according to a Sept. 6 statement from Puebla's government
- Illicit activity remained below 1% of the total transaction volume tracked by the firm
Summary
Federal prosecutors, the Mexican navy, and state security officers seized the property in Tlaola, according to a Sept. 6 statement from Puebla's government. Mexico said investigators were examining whether the crypto mined at the site was used to hide proceeds from illicit activity. "Drug cartels appear to have reached a new level of sophistication," security analyst David Saucedo told Reuters, citing the expertise and financing needed to run such a clandestine site. A separate Chainalysis study covered by The Block in 2023 also examined suspected money laundering through mining pools.