KUALA LUMPUR: A collaboration between the Malaysian Anti-Corruption Commission (MACC), Tenaga Nasional Berhad and Energy Commission has saved RM2 billion in leakages from a Bitcoin syndicate.

MACC chief commissioner Tan Sri Azam Baki said the collaboration with different agencies and entities was part of the MACC's strategy against corruption and to curb leakages.

He called on entities seeking to curb leakages to collaborate with the MACC and not act in silos as they may have limited powers to act against the perpetrators.

Speaking on the collaboration with TNB and the Energy Commission in 2022, Azam said TNB had approached MACC then as they had limited powers to act against leakages.

The collaboration was dubbed "Ops Power" aimed at busting a Bitcoin syndicate that had stolen electricity from TNB of up to RM2.3 billion between 2018 and 2021.

"When the Bitcoin incident came to our attention two years ago, TNB, like many other such agencies, had limited powers to act against the syndicate.

"This is where MACC came in to help TNB enforce our laws until we could seize their assets, prepare charges and, at the same time, curb leakages.

"Government agencies that want to act against leakages, they cannot work in silos. There has to be a collaboration with all entities," he told reporters after a memorandum of understanding signing ceremony between the three agencies, here, today (May 27).

MACC had successfully detained the suspects in Ops Power who offered bribes ranging from RM3,000 to RM300,000 to TNB employees in exchange for not taking any action and leaking TNB's operational information.

They seized RM2.37 million from 998 Bitcoin premises, cash amounting to RM281,180 and frozen assets totalling RM4.47 million, involving 97 individuals, 29 companies, and 126 bank accounts, and seized 1,157 Bitcoin machines worth RM2.34 million.

The seizure included e-wallet values totalling RM82,000 and cryptocurrency worth USD 25,893.46, as well as five luxury cars namely BMW, Honda Accord, Toyota Vellfire, Ford Ranger and Audi.

The investigation also revealed that the 998 illegal premises had siphoned electricity supply and used special devices to avoid detection.

On the memorandum of understanding that was signed today on the improvement of governance, coordination, and management of electrical assets, Azam said the purpose of the collaboration was to provide suggestions for improvements in governance.

Some of the suggestions include installing barrel locks on meter boxes at high-risk user premises, targeted installation of biometric systems on PE or feeder pillars at risk to ensure systematic records of entry and exit and targeted installation of online CCTVs at main intake sub-stations to identify individuals or groups that trespass and steal electricity.

https://www.nst.com.my/news/nation/2024/05/1055920/macc-pact-tnb-energy-commission-saves-rm1-billion-leakages-bitcoin