Thai authorities seize 63 illegal crypto mining machines worth about $60,000

According to Cryptoslate, the Central Investigation Bureau (CIB) of Thailand seized 63 illegal cryptocurrency mining machines worth approximately 2 million Thai baht (around $60,000) in Pathum Thani province. After receiving a report from local residents about stolen electricity, the police raided three abandoned houses and discovered the mining operation, which is estimated to have caused over 11 million Thai baht (around $327,000) in losses to the electricity authority. The police confiscated the mining machines, controllers, and modified electricity meters, and are investigating the connection between this illegal activity and a luxury residence in Bangkok. Currently, the CIB is applying for a search warrant to apprehend the suspects. The authorities noted that in addition to the damage caused to the power sector, the illegal mining equipment poses a significant fire hazard, with a massive power consumption that goes unmonitored.