Malaysian crypto miners stole $722 million worth of power: energy official | Headlines | News | CoinMarketCap

07/11/2024 14:43
Malaysian crypto miners stole $722 million worth of power: energy official | Headlines | News | CoinMarketCap

Cryptocurrency miners in Malaysia stole at least RM3.4 billion ($722 million) worth of power between 2018 and 2023, the country’s energy official …

Cryptocurrency miners in Malaysia stole at least RM3.4 billion ($722 million) worth of power between 2018 and 2023, the country’s energy official said.

Akmal Nasrullah Mohd Nasir, deputy energy transition and water transformation minister, said on Wednesday that the illegal crypto mining activities have become more widespread, local news website Malay Mail reported.

“The theft of electricity by those who mine cryptocurrency occurs because they believe this activity cannot be detected due to the absence of meters on their premises,” the official said. “However, energy supply companies have various methods to detect unusual energy consumption in an area.”

The deputy minister made the comment at an event where the government collectively disposed of 2,022 seized items worth RM2.2 million, …

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