PANews, June 21: According to the Bangkok Post, Thai police and relevant agencies conducted a joint operation in five northeastern provinces, raiding 14 locations and seizing 315 cryptocurrency mining devices. The suspects are accused of illegally tapping into power lines and tampering with electricity meters to steal power for mining operations, resulting in total electricity losses of approximately 40.38 million Thai baht (around $8.3 million), including 5.38 million baht in penalties for electricity violations and approximately 35 million baht in unpaid electricity bills.
Thailand Seizes 315 Crypto Miners in Electricity Theft Operation
PANewsShare
Summary
Thai authorities seized 315 crypto miners in a crackdown across five northeastern provinces, targeting illegal electricity use. The operation uncovered 14 sites with devices connected to tampered meters and unauthorized power connections. Estimated electricity losses amount to 40.38 million baht (approximately $8.3 million USD), including 35 million baht in unpaid bills. The action reflects growing regulatory scrutiny of the crypto market, where the Fear & Greed Index remains highly volatile.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.