Malaysian authorities have dismantled a bitcoin mining syndicate allegedly involved in large-scale electricity theft in the Hulu Terengganu and Marang districts, police said on Wednesday. The raids, conducted during Op Letrik by Terengganu police in collaboration with Tenaga Nasional Berhad’s Special Engagement Against Losses unit, uncovered 45 illegal Bitcoin ( BTC ) mining machines across two premises — a residential site in Bukit Perpat and a commercial property in Wakaf Tapai, according to local reporting. Terengganu police chief Datuk Mohd Khairi Khairuddin said the operation targeted properties believed to have been modified to bypass electricity meters and evade detection. Authorities estimate the stolen power resulted in losses of about RM36,000 per month to TNB. “Various other equipment used in the mining operation was also seized,” Mohd Khairi said in a statement. “The total value of the mining equipment is approximately RM225,000.” No arrests have been made so far, but all items were transported to district police headquarters for investigation. The case is being investigated under Sections 379 (theft) and 427 (mischief causing loss) of the Penal Code, along with Section 37 of the Electricity Supply Act 1990. If convicted, offenders could face up to five years in prison, fines of up to RM100,000, or both. You might also like: The $12,000 vs $300,000 Bitcoin — why where you mine matters more than ever Malaysia’s Bitcoin mining issue Bitcoin mining and the illegal use of energy are growing concerns in Malaysia. Earlier this year, an illegal Bitcoin mining operation was uncovered in a house in Kuala Lumpur on February 13, after a fire led authorities to investigate. Firefighters found modified wiring and several mining rigs that had tapped into electricity illegally. Malaysia’s electricity provider previously reported significant losses due to similar mining operations, totaling $755 million from 2018 to 2023. Malaysia’s national electricity provider, Tenaga Nasional Berhad, reported over $101 million in losses due to electricity theft linked to illegal Bitcoin mining since 2020. Other countries like Iran and Venezuela also faced power grid strain from illicit mining, prompting crackdowns and bans. You might also like: Morgan Stanley to offer retail crypto trading on E*TRADE
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