Malaysian authorities have arrested seven individuals in connection with a power theft scheme linked to bitcoin mining operations. The arrests were made following a special enforcement operation conducted last week.
According to local reports, three Malaysian citizens and four foreign nationals were apprehended separately for allegedly stealing electricity to power their bitcoin mining activities. Police seized 52 bitcoin mining devices and other electronic equipment, with an estimated value of 250,000 Malaysian Ringgit (approximately $57,000).
This crackdown is part of a broader effort to combat the growing problem of electricity theft by cryptocurrency miners. The Malaysian government has previously revealed that bitcoin miners stole an estimated 3.4 billion Ringgit (around $777 million) worth of electricity between 2018 and 2023.
Authorities are urging the public to report any suspicious activity related to bitcoin mining and power theft.
August 2024, Cryptoniteuae
