Skip to content
View in the app

A better way to browse. Learn more.

Thailand News and Discussion Forum | ASEANNOW

A full-screen app on your home screen with push notifications, badges and more.

To install this app on iOS and iPadOS
  1. Tap the Share icon in Safari
  2. Scroll the menu and tap Add to Home Screen.
  3. Tap Add in the top-right corner.
To install this app on Android
  1. Tap the 3-dot menu (⋮) in the top-right corner of the browser.
  2. Tap Add to Home screen or Install app.
  3. Confirm by tapping Install.

70+ computers thought to be used for digital coin mining seized

Featured Replies

image.png

 

Officials from the Metropolitan Electricity Authority (MEA) and the Metropolitan Police seized more than 70 computers in raids on two shop-houses in Bangkok’s Lat Phrao and Bueng Kum areas. It is thought that the equipment was being used to mine cryptocurrency coins.

 

MEA officials detected excessive use of electricity at a three-storey shop-house in Soi Prasert-Manukitch in the Bueng Kum area and at a another location in Lat Phrao Soi 128/3, despite the fact that the two premises did not have official access to an electricity supply.

 

Inspectors were sent to investigate and found that electrical wires from the two houses were directly connected to the main electrical cables, without going through meters.

 

Full story: https://www.thaipbsworld.com/70-computers-thought-to-be-used-for-digital-coin-mining-seized/

 

Logo-top-.png

-- © Copyright Thai PBS 2023-01-23
 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

  • Popular Post

Never been a fan of this crypto stuff, and have watched smugly as the price collapses. Too much of it seems to have been used by criminals, a big no-no in itself (and a good reason to regulate if not ban it, money laundering is illegal) , and then there are the horror stories of people losing their hard drive where the file was stored, thus losing everything....

 

But the methodolgy always struck as me as wrong. First, it requires so much computing power to generate the coins (as we see in this article), but apparently only a certain number per hour can be TRADED  (I've never looked at the details, but compared to currency exchange which is millions per hour this makes it nonsense)  - and last, apparently there is a finite number of coins that CAN be generated!

 

Fairy gold. 

  • Popular Post
52 minutes ago, nglodnig said:

Fairy gold. 

Like most of today's financial markets. They worry me just as much as crypto as my pension depends on them. But indeed we live in strange times where wealth has become a tradable product instead of being a reward for production.

  • Popular Post

Amazing how they are clever enough to set up this mining operation but not enough to figure out that, in this day and age, this huge electricity consumption will not go undetected or unnoticed by the MEA engineers...

Looks like there could be a deep hole in this mining operation glad its in safe hand now ????

3 hours ago, webfact said:

MEA officials detected excessive use of electricity at a three-storey shop-house in Soi Prasert-Manukitch in the Bueng Kum area and at a another location in Lat Phrao Soi 128/3, despite the fact that the two premises did not have official access to an electricity supply.

 

Inspectors were sent to investigate and found that electrical wires from the two houses were directly connected to the main electrical cables, without going through meters

Tut tut.. 

If mining coins is so very profitable why take the risk of stealing electricity? 

40 minutes ago, dpcjsr said:

If mining coins is so very profitable why take the risk of stealing electricity? 

If you ran the consumption through a meter you would be up for tens of thousands baht a month. The end result would be the same....You would get nobbled!

It don't seems like mining is such a great business anymore, since many seems not to be able to pay for their electricity; this is not the first news-story about that. Wonder what happens to the currency when all coins are mined or it's a loss to mine any new...:whistling:

Curious asks....

Is it illegal to mine for bitcoin on LOS?

3 hours ago, wombat said:

Curious asks....

Is it illegal to mine for bitcoin on LOS?

Not illegal to mine at home, as long as you pay the electricity. They were mining from stolen electricity. 

6 hours ago, Maejo Man said:
6 hours ago, dpcjsr said:

If mining coins is so very profitable why take the risk of stealing electricity? 

If you ran the consumption through a meter you would be up for tens of thousands baht a month. The end result would be the same....You would get nobbled!

"Nobbled"...why?  Is mining for crypto using metered electricity illegal now?

5 hours ago, wombat said:

Curious asks....

Is it illegal to mine for bitcoin on LOS?

Pretty sure, in fact I know, it isn't.

13 hours ago, Liverpool Lou said:

Pretty sure, in fact I know, it isn't.

Farang beware, it is considered as work.

15 hours ago, Liverpool Lou said:

"Nobbled"...why?  Is mining for crypto using metered electricity illegal now?

Not that I know of.

3 hours ago, Boomer6969 said:
17 hours ago, Liverpool Lou said:

Pretty sure, in fact I know, it isn't.

Farang beware, it is considered as work.

Irrelevant, but, mining crypto is not illegal.   

 

Who, apart from you, said that mining is classified as "work" and that, presumably you're saying, it needs a work permit?

On 1/22/2023 at 10:12 PM, nglodnig said:

Never been a fan of this crypto stuff, and have watched smugly as the price collapses. Too much of it seems to have been used by criminals, a big no-no in itself (and a good reason to regulate if not ban it, money laundering is illegal) , and then there are the horror stories of people losing their hard drive where the file was stored, thus losing everything....

 

But the methodolgy always struck as me as wrong. First, it requires so much computing power to generate the coins (as we see in this article), but apparently only a certain number per hour can be TRADED  (I've never looked at the details, but compared to currency exchange which is millions per hour this makes it nonsense)  - and last, apparently there is a finite number of coins that CAN be generated!

 

Fairy gold. 

Only a fool would keep their coins on a server that they don’t control. Put your coins into an offline personal wallet for which only you know the security key code. 

 

Having said that, only a fool buys hundreds of computer chips and the rest of the infrastructure to mine coin. 
 

Recently Browsing 0

  • No registered users viewing this page.

Account

Navigation

Search

Search

Configure browser push notifications

Chrome (Android)
  1. Tap the lock icon next to the address bar.
  2. Tap Permissions → Notifications.
  3. Adjust your preference.
Chrome (Desktop)
  1. Click the padlock icon in the address bar.
  2. Select Site settings.
  3. Find Notifications and adjust your preference.