Crypto-mining gang unplugged in operation ‘electric shock’
About 3,500 cryptocurrency mining devices were seized during a raid on an illegal cryptocurrency-mining gang operating in Bangkok and surroundings, Justice Minister Somsak Thepsuthin told reporters on Wednesday.
The raid was the result of an investigation referred to as “electric shock”, which began in February last year and was conducted by a joint taskforce set up by the ministry and the Department of Special Investigations.
Somsak said the cryptocurrency- mining operation had stolen about 500 million baht worth of electricity from the national grid over two years. The mining devices had been connected directly to power supply lines outside their premises at more than 40 addresses in Bangkok and surroundings.
He said the mining devices were used in batches of about 100 at each location so that officials would not detect unusual rises in power usage. Electricity was stolen around the clock every day of the week at each location. In total, the illegal crypto-mining operation cost the government about 500 million baht worth of stolen electricity over two years, Somsak said.
The crypto-mining operation was headquartered in a building in Soi Samakkee 38 in Nonthaburi’s Muang district.
Somsak said most of the 3,500 cryptocurrency mining devices had been illegally imported from China. Combined, the devices could generate about 4.2 million baht worth of cryptocurrency per month. The crime was very lucrative because the electricity was stolen, he added.
Somsak said the devices seized in the raid were equivalent to only 1% of the total used to illegally mine cryptocurrency in Thailand.
