Friday, January 27, 2023

Police busted Bitcoin Mining Syndicate in Selangor for stealing RM24mil worth of Electricity

NewsPolice busted Bitcoin Mining Syndicate in Selangor for stealing RM24mil worth of...

A bitcoin mining syndicate was busted by the police for stealing and modifying electricity supply to carry out bitcoin mining activities in a few districts in Selangor.

According to Utusan, Selangor Police Chief, Comm Datuk Arjunaidi Mohamed said 2,317 bitcoin mining machines were seized in a series of raids on Tuesday (21 September). The haul is estimated to worth RM1.28 million and is the biggest seizure of bitcoin set up in Malaysia.

“The raids were conducted by the police with the cooperation of Tenaga Nasional Berhad (TNB) to curb electricity theft and modification of electricity installations for bitcoin mining.”

Source: Berita Harian

In addition, the police arrested 9 local men, aged between 18 and 27, who later revealed the other premises where the maintenance of the machines were under their control.

“We conducted 30 raids in 8 districts across Selangor.” he said at a press conference at the state police headquarters yesterday (23 September).

He added that the police have seized 2,137 mining machines, 10 laptops, 5 sets of computers, and 6 units of ethereum mining graphics card.

Source: Utusan

Arjunaidi said the police have got hold of information of the syndicate’s operation since September 2020 but the police and the TNB intelligence only found the illegal electrical connection at the premise in June 2021.

“The results of the investigation found that the illegal operation has been running for about a year now starting September 2020 and has caused TNB losses of RM24.36 million, which is estimated at RM70,000 for each premise for a period of 12 months.”

Arjunaidi said the the suspects have been remanded between 2 to 4 days and the case is being investigated under Section 379/427 of the Penal Code and Section 37 (1) of the Electric Supply Act 1990.

“Police are actively tracing the mastermind of the group to assist in the investigation.” he added.

Meanwhile, he said that this bitcoin mining with modified electricity supply is illegal and the police believes that this activity does not exist only in Selangor, but throughout the nation.

He also welcome the members of public to come forward and provide the police with information about the illegal activity that is happening in the country.

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