Illegal encryption miners in Malaysia have caused electricity losses of up to 3.4 billion ringgit since 2018.

robot
Abstract generation in progress

According to a report from Coin World, based on disclosures from Malaysia's Deputy Minister of Energy Transition and Water Resources Akmal Nasrullah Mohd Nasir, illegal crypto mining activities have resulted in cumulative losses of approximately 3.4 billion ringgit (around 777 million USD) in electricity resources for the country's power company Tenaga Nasional Berhad (TNB) since 2018. These illegal miners steal electricity by bypassing meters and illegally connecting cables to support the operation of high-power mining equipment. To combat such activities, Malaysian authorities have intensified law enforcement efforts. In August 2024, the Perak police destroyed 985 illegal Bitcoin mining devices using a road roller in the Perak Tengah area, valued at approximately 1.98 million ringgit (about 450,000 USD). Previously, the police also arrested 7 individuals suspected of electricity theft for mining in the Sepang area and seized 52 mining machines and other electronic equipment, valued at around 250,000 ringgit. (CoinDesk)

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments