Bad times for miners Bitcoin, the latter are the prey of the Malaysian authorities, who follow one net attack after another. But contrary to what you might think, this is not overzealous regulation. Indeed, it would rather be a criminal network, which the Malaysian police are trying to bring down.
Electricity the sinews of crypto mining
It must be said that the extraction of bitcoins can be a very lucrative activity, if you can ignore the electricity. Indeed, following the banning of mining from China. Most of those who had made it their main activity were forced to seek out low-cost sources of electricity.
Although Kazakhstan was one of the countries favored by bitcoin miners, the idyll was short-lived. The latter had to pack up their things again to find another land of welcome. Because the Kazakh government has decided to cut it short by considering removing subsidies related to electricity. He is also suspected of having deliberately cut off electricity in the country to encourage minors to leave.
But if there is a country that is also having problems with bitcoin miners, it is Malaysia. Because since last yearmore and more news is reaching us from this country located in Southeast Asia reporting a new type of crime: electricity theft.
In July 2021, the Malaysian police had already made a show of force, in order to send a message to these new offenders by passing more than a thousand minors, worth $1.6 million, with a steamroller. This operation was the result of several seizures made between February and April of the same year by the Malaysian police. Sarawak Energy Berhad (SEB) collaborated then, because the miners were using their power cables.
Miri Police Chief ACP Hakemal Hawari said eight people were arrested for their involvement in illegal mining activities:
“A total of six people were successfully charged under Section 379 of the Penal Code with electricity theft and were fined up to RM8,000 (approximately €1728.74) and a prison term of up to eight months. »
The thieves might have gone under the radar, but their illegal activities seemed to weigh on the community:
“The theft of electricity to mine bitcoin has caused frequent power cuts and in 2021 three houses were razed due to illegal electricity supply connections. »
Statement from the Miri Police Chief
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The tree that hides the forest: mining and theft of electricity
However, the gains from such activity seem to outweigh the potential legal risks. Since the communication of the Malaysian police did not calm the ardor of the illegal bitcoin miners.
Recently, some figures and reports have reached us from the country’s press agency Bernama. These phenomena of electricity theft are deeper than they appear. Because this issue had been known to the Malaysian authorities since 2020.
However, since 2020, no less than 600 people have been imprisoned for theft of electricity. Over the same period, the authorities seized more than $16 million worth of hardware. The problem seems to be taken seriously enough that companies and different police brigades are cooperating together to try to stem the phenomenon.
Energy Sector Funds Malaysian Police Against Bitcoin Miners
In a statement by Inspector General of Police Tan Sri Acryl Sani Abdullah Sani, the latter informed the press that the arrests were made following joint efforts with representatives of the Malaysian electricity company Tenaga Nasional Berhad (TNB) and the Criminal Investigation Department (JSJ).
Still with a view to collaboration between the various police brigades and companies in the energy sector, the Royal Malaysian Police received 9 trucks from the TNB, which will be used by the JSJ.
If the TNB is so quick to finance the Malaysian police, it is because it had already suffered initial damage from $478,870 during the year 2021.
Will these means allow the Malaysian authorities to put an end to this activity? This is not safe as the volume generated by mining of Bitcoin reached several billion dollars !
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