🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!

Borneo Cracks Down on Unlawful Crypto Mining, Illicit Equipment Seized

Borneo Cracks Down on Unlawful Crypto Mining, Illicit Equipment Seized

In 2023, so far, authorities in Borneo seized over 170 illegal crypto-mining servers.

In the island town of Miri, located in Borneo, local authorities have dismantled an illegal cryptocurrency mining operation, confiscating related equipment prompted by a public tip-off.

As reported by The Borneo Post, the illicit operation was unveiled by Sarawak Energy, which found that 34 crypto-mining servers were exploiting stolen electricity through surreptitious cable tapping.

What is FUD in Crypto? (Fear, Uncertainty & Doubt Explained)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is FUD in Crypto? (Fear, Uncertainty & Doubt Explained)

What is FUD in Crypto? (Fear, Uncertainty & Doubt Explained) What is FUD in Crypto? (Fear, Uncertainty & Doubt Explained)

The entire apparatus employed in this malicious scheme, encompassing servers and the tapping cables, were confiscated by the authorities. The local police force is investigating the recent crackdown on illegal mining activities on the island.

According to the data provided by Sarawak Energy, the illegal crypto-mining facility consumed over 6,000 Malaysian ringgits per month (approximately $1,300) worth of stolen energy.

Another incident in 2023, also triggered by a public alert, resulted in the seizure of more than 137 crypto-mining servers by the authorities in the Senadin state, where Miri is situated.

While in one part of the world, authorities are fighting against illegal crypto miners, in the other part, Kyrgyzstan's President Sadyr Japarov has reportedly approved the establishment of a hydroelectric-powered crypto mining farm. In the United States, in particular Arkansas, several counties are pushing to pass emergency laws to regulate noise levels and other aspects related to the operations of crypto mining facilities.

Borneo authorities have acted decisively against an unlawful crypto-mining operation running on stolen power, seizing all related equipment in a bid to safeguard the region's energy resources.

Gile K., Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Loading...
binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating