Illegal crypto miners in Malaysia have stolen electricity worth RM3.4 billion since 2018

CoinRank News: According to Akmal Nasrullah Mohd Nasir, Deputy Minister of Energy Transformation and Water Transformation of Malaysia, illegal cryptocurrency mining activities have caused the countrys power company Tenaga Nasional Berhad (TNB) to lose a total of about 3.4 billion ringgit (about US$777 million) in electricity resources since 2018. These illegal miners steal electricity by bypassing electricity meters, privately connecting cables, etc. to support the operation of high-power mining equipment. To combat such behavior, Malaysian authorities have stepped up law enforcement. In August 2024, the Perak police used a steamroller to destroy 985 illegal Bitcoin mining equipment worth about 1.98 million ringgit (about US$450,000) in the Perak Tengah area. Previously, the police also arrested 7 people suspected of stealing electricity for mining in the Sepang area, and seized 52 mining machines and other electronic equipment worth about 250,000 ringgit. (CoinDesk)