Bitcoin

<ul><li>Malaysia crushed 985 bitcoin rigs worth $452,500 to combat power theft linked to crypto mining.</li><li>Crypto miners in Malaysia stole RM3.4 billion in electricity from 2018-2023, highlighting severe enforcement needs.</li><li>Southeast Asia attracts crypto miners with low electricity costs, but faces power theft and environmental challenges.</li></ul>Malaysian authorities have<a href="https://malaysiagazette.com/2024/08/19/polis-lupus-peralatan-bitcoin-bernilai-hampir-rm2-juta/" rel="noopener noreferrer nofollow"> intensified </a>their crackdown on illegal cryptocurrency mining by destroying nearly 1,000 bitcoin mining rigs. The operation, which took place in the Perak Tengah district, involved the use of a steamroller to crush 985 mining machines valued at approximately 1.98 million Malaysian ringgits ($452,500). This move reflects Malaysia&#39;s ongoing efforts to combat power theft linked to crypto mining, which has become a significant issue in the region.<h2 id="header-0">Enforcement Operations and Recent Arrests</h2>The destroyed rigs were confiscated during enforcement operations conducted from 2022 through April of this year. This drastic action follows a series of similar measures aimed at curbing illegal power usage associated with bitcoin mining. Authorities in Sepang district arrested seven individuals suspected of operating bitcoin mining operations that involved stealing electricity.<a href="https://cryptotale.org/malaysian-authority-destroys-985-bitcoin-rigs-worth-452500/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Malaysian Authority Destroys 985 Bitcoin Rigs worth $452,500

Table of Contents

CryptoTale

Other articles published on Aug 21, 2024

5 Affordable Cryptocurrencies to Invest in for Big Gains in 2024

US government to get AI-powered boost with Microsoft Copilot in October 2024

NFT Artist Ali Sabet Drops A New NFT Collection On Magic Eden

SHIB Lead Shytoshi Kusama Breaks Silence on Shiba Inu Token BONE

Good News for Shiba Inu (SHIB)? Major Exchange Extends Support

US spot bitcoin ETFs extend positive flow streak with $88 million inflows

Join our free newsletter for daily crypto updates!