Malaysian police arrested four cryptocurrency mining operators after discovering that they were stealing electricity from Sarawak Energy Berhad (SEB), a state-owned power firm.
It has been reported by Malay Mail that authorities spent two days cracking down on four shophouses, believed to be housing cryptocurrency mining centers, as the shophouses were located in the cities of Jalan Tun Ahmad Zaidi Adruce, Jalan Pahlawan and Jalan Tunku Abdul Rahman.
However, according to the investigation, the thieves stole over $59,000 per month from the power company.
The Electrical Inspectorate Unit (EIU) from the Sarawak Ministry of Utilities also participated in the operation.
The Malaysian authorities busted a number of people who were stealing electricity to mine cryptocurrency, reports @conexiondigicol https://t.co/emwywAhbap — Cointelegraph (@Cointelegraph) August 12, 2020
They provided additional details about the scheme by stating:
“At all premises, it was found that unsafe direct tapping cables from the main incoming supply were hidden in the gypsum ceiling that were connected straight to the electrical appliances, bypassing the meter and avoiding actual electricity consumption measurements.”
Likewise, the shophouses are reported to have generated $191 in monthly electricity bills, which seems to imply that the miners also cheated local energy meters to make it look a legitimate operation.
Thus, figures from the EIU show that 50 crypto-related electricity theft cases have been investigated since 2018.
Source: Cointelegraph | Image: DNA India