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Malaysian Force to Shut Down Bitcoin Mining Rigs That Stole $1.1B in Electricity: Bloomberg
Authorities recorded about 14,000 illegal Bitcoin mining sites causing US$1.1 billion in power theft losses, prompting a new taskforce to coordinate enforcement efforts.
- On Dec. 4, Malaysian authorities formed a joint task force using drones and police to find and shutdown nearly 14,000 illicit bitcoin mining rigs, Bloomberg reported.
- Tenaga Nasional reported about $1.1 billion in losses to power theft since 2020, with nearly 2,400 shutdowns and about 3,000 power-theft cases logged by early October.
- On the ground, police carry handheld sensors that sniff out irregular power use while miners operating in emptied complexes, logging yards and shops fit heat shields and play bird noises to mask rigs.
- The taskforce plans to coordinate a crackdown on rogue operators, centralizing enforcement across agencies after raids and removals cleared rigs by early 2025 following TikTok viral exposure.
- At the special committee's Nov 25 meeting, members debated a ban while Akmal Nasrullah Mohd Nasir warned illegal mining risks breaking grid facilities and officials suggested organised-crime involvement.
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Malaysia Cracks Down on Bitcoin Miners Behind $1.1B Electricity Theft – Decrypt
In brief Malaysia launched a special committee in November to target mining operations stealing power. Around 14,000 illicit operations have been discovered in the country over the past five years. Thailand also shut down a large mining operation linked to scam networks this week. Malaysian authorities are using drones and handheld sensors to crack down...
Coverage Details
Total News Sources14
Leaning Left1Leaning Right3Center1Last UpdatedBias Distribution60% Right
Bias Distribution
- 60% of the sources lean Right
60% Right
L 20%
C 20%
R 60%
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