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Authorities in Miri dismantle illegal cryptocurrency mining operation

MIRI: In a significant crackdown on illegal cryptocurrency mining operations involving power theft, Sarawak Energy Berhad (SEB), in collaboration with local authorities, successfully uncovered and dismantled an illicit cryptocurrency mining setup in Pujut here. The operation had been causing frequent electricity disruptions in the surrounding area and has led to substantial financial losses for the […]

Power theft: SEB nabs cryptocurrency mining operator

KUCHING: More than 20 cases of electricity theft have been discovered this year, 12 of which have been brought to court.Sarawak Energy Berhad said most recently, a cryptocurrency mining operator in Pujut, Miri was caught stealing electricity.Sarawak Energy’s utility arm Syarikat Sesco Berhad and the Ministry of Utility and Telecommunication of Sarawak raided the premises […]

European parliament calls for tax on financial transactions, crypto assets

BRUSSELS: The European Parliament (EP) on Wednesday demanded taxation on companies, financial transactions, and crypto assets in order to repay the EU’s common debts and to finance various programmes, reported Anadolu. At the EP General Assembly session held in Strasbourg, the status of the union’s budget and increasing revenue sources were discussed. MEPs approved a […]

Crypto exchange FTX recovers US$7.3b after implosion

ISTANBUL: Bankrupt cryptocurrency trading platform FTX recovered US$7.3 billion in cash and assets, the company’s attorney said Wednesday. “The situation has stabilised, and the dumpster fire is out,” Andy Dietderich said at a US bankruptcy court hearing in the state of Delaware, reported Anadolu. FTX’s founder and former CEO Samuel Bankman-Fried last month pleaded “not […]

Bitcoin jumps above $50,000 for first time since May

LONDON: Bitcoin rose back above $50,000 on Monday for the first time in three months after supportive news from payments giant PayPal and cryptocurrency platform Coinbase. The world’s most popular virtual unit jumped to $50,440 during Asian trade, before easing to $50,350 in early morning London deals. “Bitcoin continues its recent recovery, moving above the […]

Paypal launches crypto buying, selling in UK

ANKARA: Online payment company PayPal on Monday announced that its customers in the UK would be able to buy, hold and sell cryptocurrency through the company’s website and mobile app. “This new service starts rolling out this week,” Anadolu Agency reported the company said in a statement. PayPal hoped this will encourage people to research […]

MyEG’s shares up on plan to introduce DeFi service in Malaysia

KUALA LUMPUR: MyEG Services Bhd’s shares on Bursa Malaysia rose in the early session today after the company announced its plan to introduce decentralised finance (DeFi) product last Friday. At 9.53am, its share price went up 3.0 sen to RM1.62 with 1.07 million shares traded. In a news report, MyEG said the DeFi service will […]