Malaysian Police Bust Illegal Bitcoin Mining Syndicate Using Stolen Electricity

The Malaysian police raided an illegal Bitcoin mining syndicate on April 30 in Hulu Terengganu and Marang districts. The operation reportedly used stolen electricity for its activities.

Raids occurred at two locations: Bukit Perpat and Wakaf Tapai.
Authorities seized 45 Bitcoin mining machines valued at approximately $52,145 (RM225,000).
No arrests were made; investigations are ongoing.
Stolen electricity amounted to $8,342 (RM36,000) monthly.
The syndicate operated from both residential and commercial properties.

Malaysia’s Stance on Crypto Mining

Illegal mining can lead to five years in prison or fines up to $23,172.68 (RM100,000).
Bitcoin mining is not illegal if done with legally sourced electricity.
Past actions included the destruction of 985 illegal mining machines.
Between 2018 and 2023, illegal energy sources cost Malaysia $723 million.

In related news, the U.S. leads in sustainable Bitcoin mining, with over 80% powered by renewable energy sources.