This Week on Crypto Twitter: 11,000 Venezuelan Soldiers Bring Down Jailhouse Bitcoin Mining Operation

An earlier raid of a suspected drug running operation in Santiago also turned up Bitcoin hardware, but the Venezuela operation was magnitudes larger.

By Tim Hakki

4 min read

Slow news made for good news as yet another static week for the market has reinforced the sense that the prices of leading cryptocurrencies have somewhat stabilized this year.

It was also a quiet week over on Crypto Twitter. It began with a huge apology from crypto-friendly game engine developer Unity after the company substantially revised its controversial Unity Runtime Fee last week, much to the anger of developers over on social media. 


DeFi liquidity protocol Balancer was attacked on Wednesday for a quarter of a million dollars. Blockchain sleuth @ZachXBT tracked the eye-watering booty as it was getting drained. 


NFT collector @DoItBigChicago was very underwhelmed when the physical counterpart of his Gucci/Yuga Labs collaborative NFT pendant arrived. 

NFT Statistics account @Punk9059 noticed the hefty royalties accumulating to creators over on the new decentralized social token platform

A video of American software developer and early Bitcoin pioneer Hal Finney talking about zero-knowledge proofs 25 years ago resurfaced on Twitter midweek. The footage is from the 18th annual International Cryptology Conference at University of California, Santa Barbara in 1998, aka “Crypto '98”.

Dogecoin flipped Bitcoin for stability on Friday, reported Crypto Twitter news outlet @DeItaOne.

But undoubtedly the strangest story of the week broke on Thursday. In Venezuela, authorities discovered that inmates in one of the country’s maximum security prisons were mining Bitcoin using thousands of ASICs. Stranger still, the police bust sounded more like a full-scale invasion than a procedural operation, replete with 11,000 soldiers. The loot they captured from the entrepreneurial felons included grenades, rocket launchers, sniper rifles and previously confiscated mining machines!

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