Malaysia Seized 1720 BTC Mining Machines After Electricity Theft

Malaysia seized 1720 BTC mining machines after an electricity theft crackdown following public complaints as we are reading more today in our latest Bitcoin news.

The police inspected 75 premises around the district and about 30 of them carried out illegal BTC mining activities and stole electricity. Malaysia seized 1720 BTC mining machines after the major electricity theft crackdown case and police chief Datuk Mior Wahid said that the MAnjung district police headquarters carried out the decision following public complaints.

Noting that the operation involved the Tenaga Nasional Berhad and the Sitiawan Fire and Rescue Station, the police chief noted:

“This operation is the biggest success with TNB this year.”

He noted that along with the TNB, the theft of electricity was worth about RM2 million:

“Police inspected 75 premises around the district and 30 of them were found to be carrying out illegal bitcoin mining activities and stealing electricity. We seized 1,720 bitcoin mining machines.”

In addition, 15 monitors, 16 keyboards, 22 central processing units, 56 modems, and a laptop were also seized. The police chief added that they seized a Toyota Hilux as well with 44 exhaust fans, seven closed-circuit television cameras, and fire alarms. The Police Chief explained that further investigation is being conducted to identify the mastermind behind the operation and how long it was going on. The police also arrested a 28-year old caretaker on suspicion of carrying out illegal BTC mining activities and being involved in stealing electricity:

“The arrested man was remanded for four days and is being investigated under Sections 379 and 427 of the Penal Code and the Electricity Supply Act 1990.”

Previously, the authorities completely destroyed 1069 BTC mining machines with a steamroller, and the coins were confiscated at the end of 2021.

As recently reported, The government of Malaysia wants to impose harsh restrictions on cash transactions as per the local media platform The Star. According to the news, the move is a part of the efforts to combat money laundering in the country. As in most parts of Southeast Asia, Bitcoin and other cryptocurrencies and their adoption continue to fair favorably.
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However, this trend has also been accompanied by fraudulent investment schemes and criminal activities.

While Malaysia imposes cash restrictions, they don’t seem to understand that this decision will limit industries such as medical tourism, hotels, and merchants overall. The transactions routed via financial institutions will also not fall under the new restriction policy since banks already have robust anti-money laundering compliance requirements.