Authorities in Malaysia have stopped an illegal Bitcoin
According to a May 1 report from Malay Mail, the police seized 45 mining machines and other related equipment during the raids. The total value of the confiscated hardware was estimated at around RM225,000 (approximately $52,145).
Terengganu’s police chief, Datuk Mohd Khairi Khairuddin, said the miners had been stealing electricity, causing Tenaga Nasional Berhad (TNB), the national power supplier, to lose about RM36,000 (roughly $8,342) each month.
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Investigators believe the group behind the mining activity was running their operations out of homes and commercial properties, connecting their equipment directly to the electricity grid without permission. The operation was carried out with help from TNB’s Special Engagement Against Losses (SEAL) unit.
Although no arrests were made during the raid, the seized items were taken to the district police headquarters for further investigation.
Bitcoin mining itself is not against the law in Malaysia. However, illegally tapping into the power grid is a serious offence. Under Malaysian law, anyone caught tampering with electricity infrastructure could face up to five years in prison, a fine of up to RM100,000 (about $21,500), or both.
Meanwhile, Long Island resident Eugene William Austin Jr. was recently sentenced to 18 years in federal prison. What happened? Read the full story.
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