- Two crypto operations have just been shut down by officials in Johor, Malaysia.
- This comes as they believe it has stolen more than $600,000 worth of electricity over three years.
Two crypto operations have just been shut down by officials in Johor, Malaysia. This comes as they believe it has stolen more than $600,000 worth of electricity over three years.
According to a report from a local news site on the 1st of September, the energy commission in Malaysia and local officials arrested the individuals responsible for the theft of more than $600,000 worth of electricity which was used for cryptocurrency mining. Two mining operations were raided in the city of Iskandar Puteri by authorities in the nation.
The regional director of the energy commission, Nazlin Alim Sadikhi has spoken on the matter and said that one of the crypto mining operations has 100 rigs that have been operating constantly for three years. The other set up had 48 rigs and have been continuously running for two years. On a monthly basis, the owners only paid up to $14 when of course, the real price was much higher.
The director said the following on the matter:
“We found that illegal wiring was installed so that electricity was supplied directly and not through the TNB meter.”
The individuals responsible for this could face up to a penalty of $1.2 million or 10 years of imprisonment.
For their sake, I hope they found a lot of bitcoin…
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!
