Malaysian Police Raid $8,000-a-Month, 45-Machine Bitcoin Mining Operation
Malaysian police have conducted raids on illegal Bitcoin mining operations in Hulu Terengganu and Marang, seizing 45 mining machines valued at approximately $52,145 (RM225,000) and other equipment. The electricity theft from these operations has cost Tenaga Nasional, Malaysia's electricity provider, around $8,342 (RM36,000) monthly. The illegal mining syndicates reportedly operated from residential and commercial properties, illegally tapping into the local electricity grid. Although no arrests were made during the raids, the seized items are under investigation. Bitcoin mining is legal in Malaysia, but tampering with electricity connections can lead to severe penalties. Illegal mining is a growing issue in East and Southeast Asia, with international criminal groups exploiting it to bypass anti-money laundering laws. Malaysia has faced significant losses from illegal crypto mining, totaling at least $722 million (RM3.4 billion) in electricity costs from 2018 to 2023. Similar crackdowns have occurred in neighboring Thailand, highlighting a regional trend.
