Police and electricity authorities in Thailand have launched a series of crackdowns on illegal cryptocurrency mining operations accused of stealing huge amounts of electricity.
Raids in Chachoengsao and Surat Thani provinces led to multiple arrests and the seizure of mining equipment worth millions of baht.
How it went
According to a recent report According to local news media, raids took place in Surat Thani province over the weekend, with officials searching seven commercial buildings and two homes in Muang District.
The investigation resulted in the arrest of two men, Nathapong and Arthit, aged 30. Authorities seized 111 crypto mining machines, seven desktop computers, ten routers and ten modified energy meters.
The arrests took place after informants tipped off police about abandoned buildings equipped with surveillance cameras, raising suspicions of illegal activity.
A Commander of the Crime Suppression Division, Major General Montri Theskhan, revealed that Nathapong rented the commercial properties and owned the houses where the illegal operations took place.
Researchers noted significant financial transactions of more than 40 million baht between January of the previous year and July, coupled with unusually low electricity bills, indicating meter tampering.
Electricity theft and large-scale activities disrupted
Authorities believe that the suspects had adjusted electricity meters to reduce their recorded energy consumption. The custom meters were integral to powering the ‘energy-intensive’ mining equipment without proportional electricity costs.
According to officials, the stolen electricity was estimated at around 10 million baht ($287,191), underscoring the scale of the theft. During interrogation, Nathapong reportedly admitted that he had started mining operations in late 2022 and purchased second-hand mining equipment to further his work. an illegal business.
Arthit, on the other hand, allegedly confessed to being responsible for adjusting energy meters and maintaining the electricity network in the nine properties.
The crackdown continued in Chachoengsao province authorities have raided an abandoned warehouse in the Sala Daeng area of Bang Nam Prieo district.
They discovered 109 active crypto mining machines and another 66 units awaiting installation. The total value of the equipment was estimated at 17 million baht ($488,225).
The raid followed reports of suspiciously high power consumption from an otherwise unused warehouse. Electricity officials traced the power theft back to the site and estimated the cost of stolen electricity in recent months at more than 10 million baht.
In Thailand in particular, an electricity rate of 4 baht per kWh corresponds to a cost of 620,000 baht. The average monthly electricity bill for households in Thailand is estimated at around 750 baht.
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