Illegal BTC mining reaches highest peak in Malaysia

Bitcoin mining has become more profitable as the price of the crypto asset continues to rise with significant adoption. The leading digital asset has garnered a lot of attention amid the global pandemic, hitting several new highs.

After making significant profits from mining processes, many companies compete to win the hashing race and buy more equipment. At the same time, miners are buying illegal machines to continue their operations.

Malaysia is one of the countries that recorded the highest number of cases related to illegal BTC mining in the past year.

Illegal BTC mining reaches highest peak in Malaysia

Malay Mail, a local Malaysian newspaper, recently published a report citing the case of illegal bitcoin mining machines. According to the report, Malaysia’s Bukit Aman Criminal Investigation Department (CID) said the agency had seized RM54 million worth of illegal BTC mining equipment, up from around $12.9 million last year.

In particular, comparing seizures of illegal machines compared to 2020 shows an increase of over 4,185%.

After the arrest, CID Director Datuk Seri Abd Jalil Hassan announced that the authorities had opened about 570 investigations into illegal cryptocurrency mining and arrested 528 people.

The results show that in 2020 there were 26 arrests and 20 investigations. The agency also found that criminals were mostly between the ages of 18 and 30 and were involved in some mining activities.

In addition, most mining operations are conducted in Selangor, Kuala Lumpur, Perak and Penang. According to the CID, these areas are attractive due to the constant power supply, because the perpetrators take advantage of the industrial location to cover up their activities.

Malaysian government steps up prevention of illegal BTC mining

Malaysia CID uses drones to detect heat patterns and monitor unusual power consumption to prevent illegal BTC mining activities. Overall, the authorities have stepped up their crackdown on illegal mining activities over the past year. As a result, the scenario leads to the seizure of a large number of mining rigs.

While the Malaysian authority drew attention to illegal bitcoin mining activities, it also noted a rise in ransomware and pyramid schemes involving digital assets. In particular, the losses after these illicit activities reflect the global trend in 2021, and global crypto criminals record a loss of $14 billion. In fact, that number has increased by more than 79% since 2020.

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