In Malaysia, the maximum cases connected with illegitimate mining of Bitcoin were witnessed in the previous year as the authorities exercised the crackdown over several operators. Bukit Aman CID (Criminal Investigation Department) disclosed to have confiscated the equipment for mining Bitcoin illegally and the worth thereof is RM54 (nearly $12.9M), as reported by Malay Mail. However in2020, the confiscated instruments’ value was up to RM1.26M (almost $331,000). Thus the present figures indicate a spike of approximately 4,185%.
A massive increase in BTC mining
As per Datuk Seri Abd Jalil Hassan (the head of the agency), around 570 investigations have been opened by the authorities along with the arrest of 528 people linked to the illegitimate mining of cryptocurrencies. In the last year, the investigations were 20 and 26 were arrested.
A majority of the culprits had the age between 18 and 30 years with carrying out an extreme amount of mining activities that occurred in Penang, Perak, Kuala Lumpur, and Selangor. It was noted by the organization that the respective areas allure the miners because the perpetrators utilize the industrial position to cover their operations.
Also read:In addition to this, the CID elaborated that a significant elevation was noted in Ponzi schemes as well as ransomware attacks in the field of cryptocurrency. The losses in such cases reflected the worldwide trend as $14B was recorded in losses, displaying 79% advancement from the amount of 2020 with the losses of $7.8B. To eliminate illegitimate mining, drones are utilized on the behalf of the Malaysian authorities to catch the heat patterns as well as to screen unusual consumption of electricity.
Heaped up crackdown over miners
In general, during 2021, the crackdown over the illegal activities of mining was broadened by the government in Malaysia leading to the confiscation of a large number of instruments. It was formerly reported that one of the biggest crackdowns was witnessed in October 2021 when cumulatively 1,720 BTC mining devices were confiscated with an overall valuation of $RM3.5M (more or less $840,100).
The raid aimed at 75 areas along with the confiscation of up to 15 monitor units, a Toyota Hilux vehicle, 56 modems, 44 fans, 16 keyboards, seven CCTV (closed-circuit television cameras), 22 CPUs, as well as a laptop. The authorities additionally confiscated nearly 400 BTC mining devices with a worth of RM180,000 (just about $43,800).
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