Malaysian Authorities Arrest Five Bitcoin Mining Robbers

The latest Bitcoin scams news feature an arrest from the Malaysian authorities who have jailed five Bitcoin bandits who robbed 85 Bitcoin mining units earlier this year. The machines were taken from a shop in the town of Seremban on October 29.

The latest update shows that the units were valued at around $10,000 and the people behind the robbery are thought to also have stolen the machines with a main idea for them to be deployed by themselves.

As a report featured in the local news publication Bernama shows, police have arrested the five Bitcoin  scammers suspected of staging a Bitcoin mining hardware robbery. The people arrested included four men and a woman who was aged between 25 and 46 years. Two of the individuals are from Indonesia, the reports show.
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What’s interesting is that none of the five Bitcoin bandits have had any previous criminal convictions, the Malaysian authorities said.
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The superintendent of the Seremban police force, Mohd Said, confirmed that the authorities made the arrests in separate raids between the hours of midnight and 4:30 at local time. Along with the arrests, the police also seized two vehicles of drilling equipment believed to have been used during the robbery.

The bandits arrested are believed to have rented premises next to a shop in which the BTC mining equipment was being used. They drilled through the wall to gain access and make off with the computing hardware inside.

“The purpose of the rent was to monitor the movement of the machines, and their motive for stealing was believed to handle the machines themselves,” the chief of the Malaysian authorities showed.

This is not the first time that we reported about a Bitcoin scam involving miners. In 2018, the Icelandic authorities arrested 11 individuals in connection with the 600 missing Bitcoin mining rigs. According to the local police, the organized robbery was the largest ever in the history of the nation.

Currently, mining rigs are seen as much easier targets for the average criminal when compared to cryptocurrencies themselves. The hack of exchanges or individual’s wallets requires a considerable technological expertise. Mining rigs are also a worthy target since there is no need to resell them so that criminals can profit from the theft. Instead, they could be used to mine BTC (or other cryptocurrencies) without anyone knowing.