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

On March 17, according to Cryptoslate, Thai Central Investigation Bureau (CIB) officers discovered 63 illegal cryptocurrency mining machines worth around 2 million Thai baht (approximately $60,000) in three abandoned houses in Pathum Thani province last Friday. Local residents had complained about unidentified individuals stealing electricity from power poles and transformers in the area, prompting the officials to conduct the raid. The locals suspected that the stolen electricity was being used to power the cryptocurrency mining operations hidden in the abandoned buildings. Investigators estimated that the electricity stolen for the cryptocurrency mining had caused over 11 million Thai baht (approximately $327,000) in losses to the power company. In addition to the mining equipment, the police also seized three cryptocurrency mining controllers, three routers, three internet signal boosters, three modified electricity meters, one desktop computer, one laptop, and two bank passbooks. The police found that the illegal operation was linked to a luxury residence in the Ram-Indra Soi 65 area of the Khan Na Yao district in Bangkok. The CIB officers have applied for a search warrant to raid the relevant residences and identify the group's leader and other accomplices. The authorities noted that the illegal mining operations not only caused damage to the power sector but also posed significant fire hazards due to the high electricity consumption without proper supervision.