Malaysian authorities raid Bitcoin mining facilities

33 Mining Facilities Raided in Malaysia

Authorities in Malaysia have raided 33 Bitcoin mining facilities. The Malaysian electric utility company Tenaga Nasional Bhd suffered a loss of approximately $760,736 as a result of the facilities stealing electricity. 10 of the 33 facilities became aware of the raid and destroyed any evidence of Bitcoin mining. Evidence of Bitcoin mining was found in the other 23 cases. It is reported that the facilities were paying approximately $52 per month as a result of stealing electricity whereas they should have been billed $25,674 per month. The Malaysian government classifies cryptocurrencies as securities and has no restrictions on cryptocurrency mining activities. 

Source: CoinTelegraph