Malaysian law enforcement continues its battle against illegal electricity usage for crypto mining. A recent raid led to the discovery of 45 machines using stolen electricity.
Discovery of 45 Illegal Mining Machines
The raid uncovered 45 bitcoin mining machines operating on stolen electricity. Authorities focused efforts on illegal activities related to fraudulent electricity use, marking another incident in the ongoing crackdown against unauthorized crypto mining operations. According to Police Officer Supt Mohd Hafz Muhammad Nor, 'Upon arrival, we found nine mining rigs connected to stolen power supplies.'
Financial Losses for Landlords
The financial impact of illegal mining is felt by landlords burdened with unpaid electricity bills, totaling $1.9 million. This necessitates tightening landlord and tenant regulations and deeper investigations by electricity suppliers.
Recurring Power Theft Issues
Malaysia faces recurring issues of power theft for bitcoin mining. Patterns of such actions highlight the need for improved tenant verification methods. Experts emphasize the importance of robust regulatory frameworks and penalties to reduce such incidents and protect landlords from financial exploitation.
Recent events underscore the need for enhanced protections and regulations in the cryptocurrency mining sphere. Action is necessary to combat electricity theft and implement changes in legislative frameworks.
