Malaysian Police destroy thousands of bitcoin mining machines

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Tencent technology news on July 19, police in Meili, Sarawak, Malaysia and Sarawak energy, a local power company, recently took joint action and seized 1069 bitcoin mining machines. Recently, the police placed the excavators in the parking lot of the police headquarters and crushed them thoroughly with a roller.
The crackdown came after cryptocurrency miners were suspected of stealing $2 million worth of electricity from Sarawak energy, according to hakemal hawari, deputy director of the city’s police department. Since then, the video of the police destroying the bitcoin digger has gone viral on social media.
According to sources, Borneo police carried out six different raids between February and April, confiscating the mining machines. A total of about $1.26 million worth of cryptocurrency mining equipment was destroyed. According to the court’s order, the police chose to crush cryptocurrency mining equipment rather than sell them. This is quite different from the way adopted by other countries, most of which will choose to auction the confiscated excavators.
Hawali said the electricity theft by bitcoin miners led to the burning of three houses in the city, and there are no other active mining operations in progress.
Cryptocurrency mining is an energy intensive process to create new bitcoin. When people are “mining,” it actually means that they are trying to solve complex mathematical problems with highly specialized computers. Solving this problem is not only a way to create new cryptocurrency, but also a way to verify new transactions. However, running these machines at full capacity will consume a lot of electricity, which may endanger the local power supply.
Although the exploitation of cryptocurrency is not illegal in Malaysia, there are strict laws on the use of electricity. Article 37 of Malaysia’s electricity supply law stipulates that those who tamper with wires will be fined up to 100000 Malaysian ringgit (about US $23700) and sentenced to five years’ imprisonment. Cambridge alternative financial center estimates that Malaysia accounts for 3.44% of the total number of bitcoin miners in the world, ranking among the top ten mines in the world.
According to hawali, eight people have been arrested in connection with cryptocurrency mining activities in Meili City, and six have been prosecuted under section 379 of the criminal law for stealing electricity. If convicted, the defendant will be sentenced to eight months in prison and face a maximum fine of $1900 per person.
This is just the latest example of Malaysia’s efforts to hunt down cryptocurrency mining criminals. In March, a bitcoin miner in Malacca, Peninsular Malaysia, stole $2.2 million worth of electricity from Tenaga Nasional Berhad, an energy company´╝ł Tencent technology reviser / Jinlu)