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11/07/24
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Malaysian Authorities Destroy Crypto Mining Equipment of Miners Stealing Electricity
The Deputy Minister of Energy Transition and Water Transformation Akmal Nasrullah Mohd Nasir in Malaysia has revealed theft of electricity valued at $723 million by operators of illicit cryptocurrency miners from 2018 to 2023.
Nasir spoke during an event where 2,022 seized items, including Bitcoin miners and electrical equipment, were disposed of, per Malay Mail’s report. According to Nasir, illicit mining operations harm state-controlled power operator Tenaga Nasional Berhad and people living across the affected areas.
Those involved in the theft usually do not register with the appropriate authorities and look for means of bypassing electricity meters or diverting electricity from power lines. Crypto miners tapping electric power believe that their illegal activity is undetectable because meters are absent on their premises.
The minister explained that energy supply firms have various means of detecting unusual energy consumption in an area, giving them the opportunity to seize more than 2,000 items in an operation in October 2022.
Crypto mining is not illegal in Malaysia but thieving electric power for mining is illegal, according to the explanations of Universiti Teknologi MARA two years ago. Authorities across the country have been confiscating crypto mining equipment over the past few years, in line with the laws.
They used a steamroller to crush some of the seized equipment. Nasir said the ministry has prioritized efforts to clamp down on illicit miners even as the country’s renewable energy sources are increasing.
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