Police and electricity authorities in Thailand have launched a series of crackdowns targeting illegal cryptocurrency mining operations accused of stealing massive amounts of electricity.
Raids in Chachoengsao and Surat Thani provinces led to multiple arrests and the confiscation of mining equipment worth millions of baht.
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According to a hadith a report From local media: Raids took place over the weekend in Surat Thani province, with officials searching seven commercial buildings and two residential properties in the Muang district.
The investigation resulted in the arrest of two men, Nathapong and Arthit, both aged 30. Authorities confiscated 111 cryptocurrency mining machines, seven desktop computers, 10 routers, and 10 modified power meters.
The arrests were made after informants informed police of the presence of abandoned buildings equipped with surveillance cameras, raising suspicions of illegal activities.
The Commander of the Crime Suppression Squad, Maj. Gen. Montre Theiskhan, revealed that Nattapong rented commercial properties and owned the houses where the illegal operations took place.
Investigators observed large financial transactions worth more than 40 million baht from January of the previous year to July, along with unusually low electricity bills, suggesting meter tampering.
Electricity theft and large-scale operations have been disrupted
Authorities believe the suspects modified electricity meters to reduce their recorded energy consumption. The modified meters were integral to the operation of “energy-intensive” mining equipment without incurring commensurate electricity costs.
According to officials, the value of the stolen electricity was estimated at 10 million baht ($287,191), highlighting the scale of the theft. During interrogation, Natapong reportedly admitted to starting the mining operation in late 2022, and obtaining used mining equipment to further his illicit venture.
On the other hand, Arthit admitted that he was responsible for adjusting the power meters and maintaining the power supply network across the nine properties.
The crackdown continued in Chachoengsao province, where authorities raided an abandoned warehouse in Sala Daeng district of Bang Nam Prieu district.
They discovered 109 active cryptocurrency mining machines and an additional 66 units awaiting installation. The total value of the equipment was estimated at 17 million baht ($488,225).
The raid followed suspicious reports of high energy consumption from an unused warehouse. Electricity officials tracked the power theft to the site, estimating the cost of stolen electricity at more than 10 million baht in recent months.
It is worth noting that the energy tariff rate in Thailand is 4 baht per kilowatt hour, which equates to a cost of 620,000 baht. The average monthly household electricity bill in Thailand is estimated at about 750 baht.
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