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News

Malaysia Bitcoin Mining: Seven Arrested for Power Theft in Crypto Ops

2 hours ago - Around 2 mins mins to read

Key points:

  • According to a report, the police conducted a special enforcement operation last week to bust bitcoin mining activities involving electricity theft.

Malaysian authorities arrested seven for Malaysia Bitcoin Mining electricity theft, seizing 52 rigs; RM3.4 billion ($777M) in power was stolen between 2018-2023

Malaysia Bitcoin Mining: Seven Arrested for Power Theft in Crypto Ops

Malaysia Bitcoin Mining Crackdown Leads to Arrests

According to Bernama—Malaysian National News Agency — Malaysian authorities have recently arrested seven individuals, including three locals and four foreigners, for allegedly running bitcoin mining operations involving electricity theft.

Police seized 52 bitcoin mining rigs and electronic equipment worth RM250,000 ($57,000). The arrests are part of a broader effort to crack down on illegal Bitcoin mining operations in Malaysia.

Read More: Bitcoin Mining Difficulty Hits New Historic High

Power Theft in Malaysia Bitcoin Mining Operations

Amid a crackdown on electricity theft, Malaysia’s deputy energy minister reported that cryptocurrency miners have stolen RM3.4 billion ($777 million) in electricity since 2018.

Following China’s crypto mining ban in 2021, mining operations have shifted to countries like Malaysia, where competitive electricity prices and existing infrastructure make it an attractive destination for Bitcoin miners.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Bitcoin

Bitcoin mining

Malaysia

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William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.
News

Malaysia Bitcoin Mining: Seven Arrested for Power Theft in Crypto Ops

Key points:

  • According to a report, the police conducted a special enforcement operation last week to bust bitcoin mining activities involving electricity theft.

Malaysian authorities arrested seven for Malaysia Bitcoin Mining electricity theft, seizing 52 rigs; RM3.4 billion ($777M) in power was stolen between 2018-2023

Malaysia Bitcoin Mining: Seven Arrested for Power Theft in Crypto Ops

Malaysia Bitcoin Mining Crackdown Leads to Arrests

According to Bernama—Malaysian National News Agency — Malaysian authorities have recently arrested seven individuals, including three locals and four foreigners, for allegedly running bitcoin mining operations involving electricity theft.

Police seized 52 bitcoin mining rigs and electronic equipment worth RM250,000 ($57,000). The arrests are part of a broader effort to crack down on illegal Bitcoin mining operations in Malaysia.

Read More: Bitcoin Mining Difficulty Hits New Historic High

Power Theft in Malaysia Bitcoin Mining Operations

Amid a crackdown on electricity theft, Malaysia’s deputy energy minister reported that cryptocurrency miners have stolen RM3.4 billion ($777 million) in electricity since 2018.

Following China’s crypto mining ban in 2021, mining operations have shifted to countries like Malaysia, where competitive electricity prices and existing infrastructure make it an attractive destination for Bitcoin miners.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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