An illegal Bitcoin mining operation in Thailand, involving electricity theft worth billions, has been exposed and shut down.
Crackdown operation
Thailand’s Provincial Electricity Authority (PEA), with the support of the Crime Suppression Division, raided a facility in Chonburi, seizing 996 Bitcoin mining rigs. This was the result of illegal tampering with electricity meters, leading to losses amounting to millions of baht.
Illegal electricity consumption
Operators manipulated the meters to disguise power usage only at night, preventing timely detection. Similar incidents have been uncovered in other regions like Ratchaburi and Surat Thani province.
Crypto market competition
Thailand is emerging as a key market for Binance. The country is expanding its crypto landscape, attracting attention from global organizations.
Growing focus on Thailand's crypto space demands clear regulations to prevent illegal activities and support industry growth.
