China isn’t the only country cracking down on crypto. A recent video shows the Malaysian government crushing 1,069 Bitcoin mining rigs with a steamroller.<\/p>\n
The rigs, reportedly worth R18.2 million, were confiscated between February and April this year in the Miri province.<\/p>\n
Malaysia doesn’t have legislation against crypto-mining itself, but Hakemal Hawari, Assistant Commissioner of Police, told CNBC<\/a><\/strong> that the Malaysian crackdown came after miners stole almost R30 million worth of electricity, drawing it from local power lines.<\/p>\n The Chinese government took a different approach with its seized mining machines, selling them in public auctions instead of destroying them.<\/p>\n One auction on Alibaba-owned classifieds website, Taobao<\/a><\/strong>, had a lot consisting of 2,100 crypto rigs, which sold for over R1.5 million.<\/p>\n Malaysia is among the top 10 Bitcoin-mining countries in the world, accounting for 3.44% of Bitcoin mining output worldwide as estimated by the Cambridge Bitcoin Electricity Consumption Index<\/a><\/strong>.<\/p>\n A video of the carnage was posted on YouTube.<\/p>\n The video’s description translates to: “Miri police disposed of 1,069 bitcoin machines worth RM5.3 million which involved seizures during February to April this year in the Miri district.<\/p>\n