Thai Authorities Seize Illegal Cryptocurrency Mining Equipment

According to PANews, Thai Central Investigation Bureau (CIB) officials confiscated 63 illegal cryptocurrency mining machines last Friday, valued at approximately 2 million baht ($60,000). The equipment was discovered in three abandoned houses in Pathum Thani province. Local residents had reported unidentified individuals stealing electricity from power poles and transformers in the area, prompting the raid. It is suspected that the stolen electricity was used for cryptocurrency mining operations hidden within the abandoned buildings. Investigators estimate that the stolen electricity resulted in losses exceeding 11 million baht ($327,000) for the power authority. In addition to the mining equipment, police seized three cryptocurrency mining controllers, three routers, three internet signal boosters, three modified electricity meters, a desktop computer, a laptop, and two bank passbooks. No arrests were made as the mining operations were remotely controlled. However, evidence linked the illegal activities to a luxury residence in the Ram-Indra Soi 65 area of Khan Na Yao district, Bangkok. CIB officials have applied for a search warrant to raid the associated residence to identify the ringleader and other accomplices. Authorities highlighted that, beyond the financial damage to the power sector, the illegal mining operations posed significant fire hazards due to the high electricity consumption and lack of supervision.