Since 2018, illegal crypto miners have stolen $723 million worth of electricity in Malaysia. This is a significant amount of money and has caused harm to the state-controlled power operator and locals in affected areas.
What is Being Done to Stop Them?
Crypto mining itself is legal in Malaysia, but stealing electricity to power them is not. Malaysian officials have been seizing illegal crypto mining equipment since at least August 2019. They have seized over 2,000 mining items since October 2022.
The Malaysian government is taking steps to crack down on illegal crypto mining operations. These efforts are important to protect the country's electricity grid and ensure that everyone has access to affordable electricity.
Crypto Miners Stole $723 Million of Electricity in Malaysia Since 2018 - I hope this article was informative.
