Russia Cracks Down on Illegal Crypto Mining Operations, Seizing 63 Rigs and Recovering Over $327,000 in Stolen Electricity.

Thailand Seizes 63 Illegal Crypto Mining Rigs That Stole Over $327,000 in Electricity

Thai authorities have seized 63 illegal cryptocurrency mining rigs that allegedly stole over $327,000 worth of electricity from the national grid.

According to a report by the Thai News Agency, the seized rigs were discovered in a warehouse in Bangkok's Bang Na district. The operation was carried out by the Energy Regulatory Commission (ERC) and the Metropolitan Electricity Authority (MEA) in collaboration with the Royal Thai Police.

The seized rigs were reportedly using high-powered computers to mine cryptocurrencies, including Bitcoin and Ethereum, without proper permits or licenses. The authorities estimated that the illegal mining operation had stolen over 10 million baht (approximately $327,000) worth of electricity from the national grid.

The ERC and MEA launched an investigation into the illegal mining operation after receiving complaints from local residents about high electricity bills. The authorities discovered that the mining rigs were using illegal connections to tap into the national grid, bypassing metering systems and avoiding payment for the electricity consumed.

The seized rigs have been confiscated and the operators of the illegal mining operation are facing charges for stealing electricity and operating without proper permits. The authorities have also warned that they will take stern action against anyone found to be involved in illegal cryptocurrency mining in the future.

The seizure of the illegal mining rigs is seen as a major blow to the illegal cryptocurrency mining industry in Thailand, which has been a growing concern for authorities in recent years. The move is also expected to send a strong message to would-be illegal miners that the authorities will not tolerate such activities in the country.