Latest news with #OpLetrik
Arabian Post
04-05-2025
- Arabian Post
Bitcoin Power Theft Ring Exposed in Terengganu Raids
A coordinated operation by Terengganu police and Tenaga Nasional Berhad has dismantled an illicit bitcoin mining syndicate accused of stealing electricity to power its operations in Hulu Terengganu and Marang districts. The joint raid, codenamed Op Letrik, led to the seizure of 45 mining machines valued at RM225,000. The syndicate allegedly bypassed electricity meters to siphon off power directly from the grid, enabling them to run energy-intensive cryptocurrency mining equipment without detection. This modus operandi not only resulted in significant financial losses for TNB but also posed safety hazards due to unregulated electrical connections. Nationwide, TNB has reported escalating losses attributed to electricity theft for bitcoin mining. Between 2020 and September 2024, the utility company suffered losses amounting to RM441.6 million. The number of raids conducted in this period totaled 2,091, reflecting the growing prevalence of such illegal activities. The financial impact of electricity theft linked to cryptocurrency mining extends beyond TNB. From 2018 to 2023, Malaysia incurred losses estimated at RM3.4 billion due to such illicit activities. These figures underscore the broader economic implications and the strain placed on the national power infrastructure. In response to the surge in electricity theft, TNB has intensified its collaboration with law enforcement agencies. The utility company has also proposed the implementation of special tariffs for legitimate bitcoin mining operations, aiming to encourage compliance and reduce illegal power consumption. The Malaysian Anti-Corruption Commission has been actively involved in addressing the issue. Since the inception of joint operations in 2018, authorities have uncovered 7,209 cases of electricity theft related to bitcoin mining, involving RM2.3 billion worth of stolen electricity. These operations have led to the seizure of 1,157 bitcoin mining machines valued at RM2.3 million, and the confiscation of approximately RM2.4 million in bribes. See also Bell Canada and Ericsson Advance AI-Driven Network Optimisation The crackdown on illegal bitcoin mining is not confined to Terengganu. In Miri, Sarawak, authorities discovered a similar operation where 25 cryptocurrency servers were powered through direct tapping cables concealed in the ceiling, resulting in estimated monthly losses of RM18,000 in unpaid electricity consumption. Such cases highlight the widespread nature of the problem across Malaysia. Law enforcement agencies are employing advanced detection methods to identify unusual energy consumption patterns indicative of illegal mining activities. These efforts are complemented by public awareness campaigns urging citizens to report suspicious activities related to power theft. The legal framework in Malaysia imposes stringent penalties for electricity theft. Under Section 33 of the Electricity Ordinance, offenders may face fines up to RM200,000 and/or imprisonment for up to five years. Authorities are also considering the application of the Prevention of Crime Act to address the organized nature of these syndicates.
Business Mayor
01-05-2025
- Business Mayor
Terengganu Police Dismantle Bitcoin Mining Syndicate in Electricity Theft Crackdown
Terengganu police and Tenaga Nasional Berhad (TNB) dismantled a syndicate accused of stealing electricity to power illegal bitcoin mining operations in Hulu Terengganu and Marang districts on Tuesday, seizing 45 machines worth RM225,000. Police, TNB Raid Illegal Bitcoin Mining Operations in Hulu Terengganu, Marang The joint operation, codenamed Op Letrik, targeted two premises—one in Bukit […] READ SOURCE
Malay Mail
01-05-2025
- Malay Mail
Bitcoin mining syndicate busted in Terengganu for electricity theft worth RM36,000 monthly
KUALA TERENGGANU, May 1— Police have dismantled a syndicate involved in electricity theft for illegal bitcoin mining during Op Letrik in the Hulu Terengganu and Marang districts yesterday. Terengganu police chief Datuk Mohd Khairi Khairuddin said the operation was carried out in collaboration with Tenaga Nasional Berhad's (TNB) Special Engagement Against Losses (SEAL) unit. Raids on two premises — one in Bukit Perpat, Hulu Terengganu, and another in Wakaf Tapai, Marang, led to the seizure of 45 bitcoin mining machines worth an estimated RM225,000. 'The syndicate operated from residential and commercial properties, believed to have been used to tap electricity illegally and avoid detection. 'Along with the machines, various other equipment used in the operation was also confiscated. The electricity theft is estimated to have cost TNB around RM36,000 in monthly losses,' he said in a statement today. Mohd Khairi said no arrests were made during the raids, but all seized items were taken to the respective district police headquarters for further investigation. The case is being investigated under Sections 379 and 427 of the Penal Code, as well as Section 37 of the Electricity Supply Act 1990. Convicted offenders may face up to five years' imprisonment, fines of up to RM100,000, or both. — Bernama
