KLANG: Three cryptocurrency mining operations managed to rake in over RM150,000 in profits in only two months.

       Police, however, put a stop to their activities after checks revealed they had been stealing electricity to power their mining machines.

       Tenaga Nasional Bhd (TNB) estimates the three operations caused at least RM60,000 in losses from electricity theft.

       South Klang OCPD Asst Comm Cha Hoong Fong said police conducted a joint operation with TNB and the Klang Municipal Council on March 1 and 2.

       “We conducted raids on three premises at Bandar Puteri and Bayu Perdana, arrested 12 men and seized RM65,000 worth of cryptocurrency mining machines.

       “Those arrested were aged between 18 and 43, and further checks revealed seven of them had criminal records,” he told reporters here yesterday.

       ACP Cha said investigations showed the suspects worked as caretakers and technicians to monitor the mining operations.

       “Based on our estimates, these three operations managed to rake in profits of at least RM150,000 in the two months they had been operating.

       “TNB estimates they stole over RM60,000 worth of electricity,” he said.

       When asked, ACP Cha said the illegal electricity connections were detected by TNB meter readers.

       “We are investigating if these operations were working together with other meter readers to avoid getting caught,” he said.

       ACP Cha said in January and February, police raided five premises and seized 131 mining machines.

       “Last year, we raided 11 premises, seized 696 machines worth RM300,000 and arrested six suspects.

       “These raids will be ongoing to ensure such illegal activities are curbed,” he added.