Malaysian Energy Commission Conducted A Raid On Cryptocurrency Companies

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Energy Commission (ST) and Tenaga Nasional Berhad (TNB) Conducted A Raid On Two Cryptocurrency Companies.
  • Two suspected cryptocurrency Companies raided in the Taman Pendamar Indah region for electricity theft that has taken place recently. 
  • MPK had investigated around 21 properties that were around the Taman Pendamar Indah administration area that helped in carrying out the electricity theft.

The Energy Commission (ST) and TNB have together conducted a raid in two suspected cryptocurrency businesses in the Taman Pendamar Indah region for electricity theft that has taken place recently. 

The Energy Commission or Suruhanjaya Tenaga overlooks mainly the energy sectors and the electricity and piped gas supply industries in Peninsular Malaysia and Sabah. Energy Commission replaced the role of the Department of Electricity and Gas Supply in 2002. It now regulates the economy, security, and efficiency of the energy sector. 

On the other hand, TNB is Malaysia’s largest electricity production company, with its headquarters in Kuala Lumpur. They provide electricity throughout the country, thus contributing to Malaysia’s growth. 

40 TNB SEALs And 15 ST Personnels Conducted The Raid

The previous raid that took place in the two cryptocurrency companies, conducted by 40 TNB Special Engagement Against Losses Staff or most commonly referred to as SEAL along with 12 Klang Municipal Council (MPK) enforcement officers and 15 Energy Commission personnel. The raid conducted for a total of two hours. 

Ir Shafie Mohamed of ST Enforcement Planning and Coordination Unit said during the raid, TNB personnel have found some illegal wiring connected to the raided companies. This operation is said to have continued for the past three months as announced in a meeting where MPK deputy president Elya Marini Darmin was also present. 

MPK Deputy President Says They Will Investigate 21 Premises

She said that MPK had investigated around 21 properties that were around the Taman Pendamar Indah administration area that helped in carrying out the electricity theft. She has confirmed that she will investigate the owners of the properties and pass on the information to the Energy Commission and TNB for further legal proceedings. In an announcement, she has said that the owner may have made illegal wiring of the premise or any third party. 

A Monthly Loss Of RM 30000 Because of The Electricity Theft

It has confirmed that almost a loss of RM 30,000 was incurred every month due to electricity theft probably for mining. ST Enforcement Planning and Coordination Unit director has said that the theft case investigated under Section 37 of the Electricity Supply Act 1990. If found guilty of the crime, the criminals would have to pay a hefty fine, and in the worst-case scenario, they will have to go to jail.

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