Fun

Malaysia Flattens Seized Bitcoin Mining Rigs With Steamroller — Over 1,000 Machines Demolished

News Feed - 2021-07-19 08:07:55

Malaysia Flattens Seized Bitcoin Mining Rigs With Steamroller — Over 1,000 Machines Demolished


Over 1,000 bitcoin mining machines have been totally destroyed in Malaysia after they were seized for illegally mining the cryptocurrency using stolen electricity. The mining machines, worth about $1.26 million, were steamrolled in the Malaysian city of Miri and eight people have been arrested so far. Over a Thousand Bitcoin Mining Machines Demolished in Malaysia


Malaysian authorities have completely destroyed 1,069 bitcoin mining machines confiscated between February and April with a steamroller, local media reported Friday.


The mining machines were seized in a joint operation carried out by police and Sarawak Energy Berhad (SEB) in Miri, a Malaysian city on the northwest coast of the island of Borneo. They are estimated to be worth 5.3 million Malaysian ringgits ($1.26 million). All seizures that had been settled in court were disposed of at the Miri district police headquarters Friday.


Miri police chief ACP Hakemal Hawari said eight individuals were also arrested for being involved in illegal mining activities. He said in a statement: A total of six people have been successfully charged under Section 379 of the Penal Code for electricity theft and have been fined up to RM8,000 and jailed for up to eight months.


The authorities said that the mining machines used electricity stolen from SEB’s electricity supply lines to mine bitcoin.


According to the police chief, SEB suffered a loss of 8.4 million Malaysian ringgits due to electricity theft from the bitcoin mining activities. He further detailed: The electricity theft for mining bitcoin activities has caused frequent power outages and in 2021, three houses were razed due to illegal electricity supply connections.


Local news outlet Dayakdaily posted a video of the destruction of seized bitcoin mining machines Friday.



What do you think about Malaysian authorities destroying bitcoin mining machines with a steamroller? Let us know in the comments section below. IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border Payments REGULATION | 6 hours ago Bank of England’s Deputy Governor: Cryptocurrencies Aren’t Big Enough to Pose Financial Stability Risk REGULATION | 20 hours ago Tags in this story bulldoze bitcoin mining machines, bulldozing, crushed, demolished, destroyed, Malaysia, Malaysian, malaysian bitcoin mining, mining machines, steamroll bitcoin mining machines, steamrolled


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Data Shows Ruble-Denominated Crypto Trading Has Spiked, RUB Represents Over 2% of USDT Trades
Data Shows Ruble-Denominated Crypto Trading Has Spiked, RUB Represents Over 2% of USDT Trades According to reports and data stemming from ruble-denominated crypto trading pairs, Ru
XRP Breaks Out Of Head-And-Shoulders Pattern — Eyes Move Toward $1.30
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Turner Wright1 hour agoCrypto ATM firm Bitcoin Depot will go public on Nasdaq starting July 3The special purpose acquisition company deal, first reported in August 2022, cost $885 million and is expected to allow investo
Prashant Jha16 minutes agoFTX seeks sale of Grayscale and Bitwise trust assets worth $744 millionThe $744 million trust asset sale request comes after the judge approved the phased-out sale of nearly $3.4 billion in cryp
Tristan Greene6 hours agoElon Musk trials $1 subscription signup fee for new X users in New Zealand, PhilippinesThe social media platform’s owner seems on the cusp of turning X into a fully subscription-based app.970 T
Governments Need to Stop Dismissing Crypto as Illicit Payments and Reckless Speculation, Says El-Erian
Governments Need to Stop Dismissing Crypto as Illicit Payments and Reckless Speculation, Says El-Erian Mohamed El-Erian, an adviser to Allianz and Gramercy Funds
Tornado Cash co-founder requests dismissal of money laundering charges
Ciaran Lyons8 hours agoTornado Cash co-founder requests dismissal of money laundering chargesRoman Storm’s lawyers argued that the charges are “fatally flawed” and must be dismissed, given “there was nothing” S
Amaka Nwaokocha10 hours agoAI and real-world assets gain prominence in investor discussionsDiscussions concerning cryptocurrency prices have waned due to a prolonged period of sideways market performance.2963 Total views
Bitcoin Wobbles? Metaplanet Buys Big, Breaks $1 Billion Mark
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Analyst Shows 3-Cycle Ride For XRP Price To Reach $46
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
A Model for the Next Generation DEX, TitanSwap Will Be a Dex With Better User Experience
A Model for the Next Generation DEX, TitanSwap Will Be a Dex With Better User ExperienceTitanSwap is using the renBTC protocol to implement cross-chain operations. Compared with the
Tom Blackstone10 hours agoOPNX gets EU spot crypto trading license in LithuaniaKyle Davies’ and Su Zhu’s OPNX exchange acquired a Lithuania virtual asset license to offer spot trading in the EU.2811 Total views20 Tot