Indonesian authorities recently conducted raids on ten sites suspected of illegal Bitcoin mining, seizing electricity from the national grid over the Christmas weekend. This crackdown in Medan, North Sumatra, is notable in a country that, while growing rapidly in crypto adoption, isn't widely known for mining. The raids resulted in the discovery of 1,314 bitcoin rigs and the detention of 26 individuals.
The suspects allegedly stole electricity worth approximately 14.4 billion Indonesian rupiah ($100,000), equating to about 10 million kilowatt-hours. This volume of electricity theft, under Indonesian law, is a criminal offense, punishable by up to five years in prison or a fine of double the value of the unpaid electricity. The stolen amount is equivalent to the annual energy consumption of around 7,500 individuals in Indonesia.
Indonesia's neighbor Malaysia has previously made arrests related to electricity theft by crypto miners, but this marks one of the first major cases of such nature in Indonesia. The state-owned electricity company PLN has expressed its commitment to collaborating with authorities to address similar cases of electricity theft.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.