Malaysian authorities have thrown $1.2 million down the drain by participating in a dramatic spectacle of comedic show in steamrolling multiple thousand bitcoin asics.
That is the primary time such motion has been taken so far as we’re conscious, with it unclear whether or not the authorities within the Miri metropolis of 300,000 folks fairly knew what they had been doing.
A video reveals a steamroller going over the asics, presumably to show them into granite? The asics are then a bit extra flat with it unclear whether or not on the very least they bought them for scrap.
We presume they didn’t even know these are very helpful ‘computer systems’ with simply one among them going for $10,000. They might have thought as a substitute these are someway dangerous electrical energy stealing units and steamrolling them will educate them a lesson.
As a result of that’s a technique of viewing these particular asics which had been used to mine bitcoin by way of stolen electrical energy with eight folks arrested.
“A complete of six folks have been efficiently charged underneath Part 379 of the Penal Code for electrical energy theft and have been fined as much as RM8,000 and jailed for as much as eight months,” Miri police chief ACP Hakemal Hawari stated on Friday.
They apparently stole some $2 million value of electrical energy from Sarawak Power Berhad (SEB), greater than half of which may have been recouped by auctioning these asics as a substitute of enjoying Mr Bean.
There’s no suggestion they seized any bitcoins both, most likely as a result of they haven’t any clue what bitcoin is, not to mention the way to seize it.
A extra knowledgeable authority would have most likely discovered eth in addition to different cryptos, all of which together would have paid again greater than the stolen electrical energy, and so in the long run the nation would general profit.
However right here as a substitute they steamroll these dangerous boys, which is a bit peculiar as a result of Malaysia is now pretty wealthy with a GDP of $360 billion for 30 million folks, however they’re nonetheless a growing nation beneath European ranges.
Bitcoin as well as is completely authorized there, labeled by courts as a commodity, so this isn’t some gov coverage however a police division coming throughout a brand new factor and so not fairly understanding what to do with it.
One thing that offers us a really vivid show of the rising bitcoin adoption within the area as presumably these police boys will now understand they burned some huge cash, and so get to study simply what’s bitcoin within the course of.