Crypto

Crypto Miners Arrested For Stealing Millions in Electricity: Thai Police Crack Down

In a significant move to combat illegal activities, police and electricity authorities in Thailand have intensified their efforts against unauthorized cryptocurrency mining operations. These efforts have led to the identification and dismantling of operations that have been illicitly consuming vast amounts of electricity, causing economic disruptions and raising concerns about energy usage.

How the Crackdown Unfolded

The operations came to light following an orchestrated series of raids in the provinces of Chachoengsao and Surat Thani. Local law enforcement, in collaboration with electricity authorities, conducted these raids over a weekend, targeting key sites suspected of harboring illegal mining activities. Their efforts paid off, resulting in several arrests and the confiscation of mining hardware valued at millions of baht.

In Surat Thani province, the authorities focused their attention on seven commercial buildings and two residential properties located within the Muang district. This thorough investigation culminated in the arrest of two individuals, Nathapong and Arthit, both 30 years old. The law enforcement officers seized an impressive array of equipment, including 111 crypto-mining machines, seven desktop computers, ten routers, and ten modified power meters.

Insights from the Investigation

The police action was initiated based on intelligence received from informants. These informants had noticed suspicious activities in deserted buildings, which were equipped with surveillance cameras, raising red flags about potential illegal operations. Pol Maj Gen Montri Theskhan, a commander with the Crime Suppression Division, disclosed that Nathapong was the mastermind behind the operation, having rented the commercial properties and owned the residences where the mining activities were taking place.

The investigation further uncovered significant financial transactions exceeding 40 million baht from January of the previous year to July. These transactions, coupled with unusually low electricity bills, pointed towards potential meter tampering activities—a strategy used to mask the true extent of electricity consumption.

Disruption of Large-Scale Electricity Theft

The suspects were allegedly modifying electricity meters to underreport their energy consumption, a critical component in their scheme to operate energy-intensive mining equipment without bearing the corresponding electricity costs. Officials estimated that the stolen electricity was worth approximately 10 million baht, underlining the substantial scale of the operations.

Admissions and Further Findings

During interrogations, Nathapong reportedly confessed to initiating the mining operation in late 2022, utilizing secondhand mining equipment to facilitate his illegal enterprise. Arthit, on the other hand, allegedly admitted to tampering with power meters and ensuring the stability of the electrical network across the nine implicated properties.

In addition to the operations in Surat Thani, authorities extended their crackdown to Chachoengsao province. Here, they raided a deserted warehouse located in the Sala Daeng area of Bang Nam Prieo district. Inside, they discovered 109 active crypto-mining machines, along with an additional 66 units poised for installation. The total value of this equipment was pegged at 17 million baht.

Understanding the Economic Impact

The raids were prompted by reports of unusually high power consumption emanating from the otherwise unused warehouse. Electricity officials traced the unauthorized power usage back to this site, estimating the cost of the stolen electricity at over 10 million baht in recent months. In Thailand, the power tariff rate stands at 4 baht per kWh, translating to a cost of 620,000 baht for the stolen energy.

For context, the average monthly household electricity bill in Thailand is approximately 750 baht, highlighting the enormity of the theft when juxtaposed with regular consumption patterns.

Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories.I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology.My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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