Indonesia cracking down illegal Bitcoin mining operations
Indonesian police seized 1,134 Bitcoin mining equipment, for electricity theft worth $1 million.
Indonesia is a crypto-friendly jurisdiction. Under the country’s law, which is different from the American securities law, more than 500 cryptocurrencies are Commodities. People are allowed to trade & invest in all such cryptocurrencies with full freedom without any restriction.
Recently many local media reports confirmed that the North Sumatra Police Force took action against many crypto mining firms and seized 1,134 Bitcoin mining equipment for allegedly using electricity directly from the grid power.
Following the tips from the electricity department, the law enforcement department took action against Bitcoin mining companies and found that they stole nearly $1 million worth of electricity. In short, these actions by the Indonesian police were a part of fair action against illegal Bitcoin mining activity.
In the seized equipment there are mining rigs, 11 metre wires, and other multiple computer equipment.
Arjen Agung Setya Imam Effendi, the Chief of North Sumatra Police, shared more information on this action with the media and said that these Bitcoin mining operators were using electricity illegally.
The official alleged that the organisers of the operation had tampered with electrical circuits to power the substantial number of Bitcoin mining machines.
In short, Bitcoin miners were showing that they used the proper traditional method of electricity use via electricity metre box to mine Bitcoin but they tempered the electricity metre box & electricity was not flowing through the box.
Earlier this recently a report came from China where it was found that a Chinese government official was helping Bitcoin mining companies to access electricity to run Bitcoin mining equipment.
Reportedly it was found that this guy helped 160,000 Bitcoin miners to use 10% of the local city’s entire electricity between 2017 to 2021.
The Chinese court ruled lifetime sentences for this government official for helping Bitcoin miners, which is banned in mainland China.
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