News & Reviews:   bitcoin

This week's TechNave Business Bytes news for Week 2 of March 2024 highlights advancements in technology and sustainability across various industries in Malaysia.

Today, several Tune Talk users received a weird notification from the app itself. If you don't use Tune Talk, the message is notifying users that they have won double bitcoins which would raise some red flags. This has led to many users to tag the company as a possible hack in the official app.

The Royal Malaysia Police (PDRM) yesterday revealed that a total of 627 individuals and RM69.8 worth of itemas have been seized since 2020 in cases related to illegal bitcoin mining in our country. Furthermore, the cases involved electricity theft for the cryptocurrency mining activities.

Inspector-General of Police (IGP) Tan Sri Acryl Sani Abdullah Sani in a statement yesterday said that the arrests were made possible thanks to cooperation between Tenaga Nasional Berhad (TNB) and the Criminal Investigation Department (JSJ). In fact, PDRM even received 9 Mitsubishi Tritons from TNB to be used for combating electricity theft in Malaysia.

With the rising cases of electricity theft due to illegal bitcoin mining in Malaysia, the Tenaga Nasional Bhd (TNB) just submitted a proposal to the Energy Commission. The proposal? Set a special tariff for bitcoin miners.

We have talked about this before but in case you haven't, bitcoin miners have been siphoning lots of electricity. Even though a couple of bitcoin mining operations have been busted over the few years, the government reported that there has been an estimated loss of electricity for more than RM2.3 billion.

Of all the activities during the pandemic, not only did more people are spending more time with their hobbies but Bitcoin mining is increasing as well. In case you missed it, there was news about a police raid seizing over a thousand (1069, to be exact) mining rigs in Miri, Sarawak.

Can you imagine if those miners are using RTX GPUs? Luckily, these aren't. It seems that a group of individuals have been mining bitcoins and not only that, they also bypassed the electricity reading which costs Tenaga Nasional Berhad (TNB) more than RM8 million losses.

So yes, an unfortunate Malaysian student just lost RM84,600 due to an online scam. According to the Melaka Commercial Crime Investigation Department Chief, Supt E Sundra Rajan told the reporters that it happened not too long ago on 5 January, where she saw a Bitcoin advertisement on Facebook and then got scammed in WhatsApp.

Thought the Bitcoin hack case on Twitter was shocking enough? Well, YouTube has been hit by a new series of Bitcoin scams targeting the accounts of high-profile YouTubers. In this new wave, hackers change the channel names of hacked YouTube account and live-stream trending topics to spread their Bitcoin scam.