Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Indonesian Authorities Raid Sites Suspected of Bitcoin Mining with Stolen Electricity

Indonesian Authorities Raid Sites Suspected of Bitcoin Mining with Stolen Electricity

CointimeCointime2023/12/29 10:06
By:Cointime

Over the Christmas weekend, Indonesian authorities conducted a raid on ten suspected bitcoin mining sites that were allegedly using stolen electricity from the national grid. Although Indonesia is not known for being a hub for mining, it is a fast-growing crypto adopter. Electricity theft is considered a criminal offense in Indonesia, with penalties of up to five years in prison or a fine of up to twice the value of the unpaid electricity. At the raided sites in Medan, North Sumatra, authorities found 1,314 bitcoin rigs and detained 26 individuals. The suspects allegedly stole electricity by tapping into state-owned utility poles, resulting in losses of around $100,000 to the state.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

SEC sues Elon Musk over delayed disclosure of Twitter stake

Share link:In this post: The Securities and Exchange Commission has sued Elon Musk, accusing him of securities fraud linked to his $44 billion takeover of Twitter, now known as X. The regulatory body alleges Musk unjustly gained $150 million by withholding his purchase details. Musk’s lawyer, Alex Spiro, characterized the lawsuit as a “sham.”

Cryptopolitan2025/01/15 04:00

Ethereum cope to counter worries that ETH is doomed

A theory on why the overperformance of rivals has little to do with Ethereum itself

Blockworks2025/01/15 04:00