Indonesian Police Raid Bitcoin Mining Operations Over $1 Million Electricity Theft

blockchain.news:

The Indonesian government has recently ordered the closure of ten Bitcoin mining companies located all around the nation as part of a big crackdown on criminal activities including cryptocurrency mining. After conducting a comprehensive investigation into these activities, which found that they were operating without the requisite licenses and permissions, this action was taken. One thousand three hundred and fourteen Bitcoin mining rigs were taken into custody as a result of the searches that took place in Medan, which is located in North Sumatra. It has been stated that these illicit mining operations entailed the theft of energy. The suspects are said to have reached into utility poles operated by the state-owned electricity firm PLN in order to steal electricity.

Mining Bitcoin, which is necessary for verifying transactions and adding them to the blockchain, demands a significant amount of processing power and energy resources. The fact that these activities were carried out without authorization not only resulted in legal complications, but it also gave rise to environmental concerns because of the significant amount of energy that was used. It has been highlighted by the Indonesian authorities that it is necessary to take action against such unlawful operations, which not only jeopardize the financial system of the nation but also have the potential to aid illegal actions such as money laundering and supporting terrorist organizations.

The technique of energy theft that was used by the miners was brought to light by the Chief of Police of North Sumatra, Irjen Agung Setya Imam Effendi respectively. According to the allegations, they interfered with electrical circuits and stole energy straight from the poles,