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Flexpool halts services in Russia amid ongoing conflict with Ukraine

After Russia’s invasion of Ukraine, Flexpool, the fifth largest Ethereum mining pool in the world, has become the first of its kind to cut services for Russian users. The decision was made to show support for Ukraine.

On Thursday, a spokesperson for Flexpool he said on his official Telegram channel,

“We generally don’t get involved in politics, despite our personal opinions as a company. However, this is bigger than politics, bigger than anyone. This is a war that could end the world. It is certainly taking the lives of many innocent people in Eastern Europe.”

Russian miners welcome after crisis is resolved

The pool is terminating all services to IP addresses in Russia and paying outstanding balances to affected customers because it does not want to profit from the situation or finance it indirectly, according to the message. The statement also made an apology to all miners working in Russia. They stated that once the crisis is resolved, Russian miners will be welcome back.

Many citizens of Russia opposed the war and are rarely represented in the authoritarian state. Flexpool’s actions could be affecting people who have nothing to do with the current situation in Ukraine.

Furthermore, banning people from mining decentralized cryptocurrencies through a mining pool does not seem to follow the fundamentals of decentralization. As Vitalik stated, ETH is neutral, but it is not; this is how any decentralized technology should operate.

According to information portal, Flexpool is the fifth largest ether mining pool in the world. In times of security crisis, it is likely to be the first to restrict access in Russia.

Hiveon, the second largest pool, posted a statement of support for Ukraine on its account,

“(It is) impossible to stay away from violence in Ukraine”,

But the company has not yet taken any action.

With the Russia-Ukraine situation deteriorating by the hour, cryptocurrency markets, on the other hand, have witnessed a rise in prices. One can speculate that with the continued uncertainty and fear, people are starting to invest their money in cryptocurrencies. With Russia being sanctioned and many of its financial institutions isolated from the West, cryptocurrency could be the asset that brings some hope to ordinary people.

About the author


I am CBC, I am a Crypto expert and a part-time blogger. I usually write about how and where to buy crypto coins in legit ways.

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