"Malaysia's national utility firm Tenaga Nasional incurred losses of more than $1 billion (860 million) from illegal power usage by cryptocurrency miners between 2020 and August this year, the country's Energy Ministry said earlier this month. Malaysian police have stepped up a crackdown, conducting several raids on suspected sites since January, as part of a multi-agency operation with energy regulators and anti-graft authorities to tackle electricity theft linked to crypto mining."
"Tenaga Nasional said in a report to parliament this month that it had detected 13,827 establishments suspected of being illegal crypto mining sites. "These activities not only threaten user safety, but also jeopardize the nation's economic stability, increase public safety risks ... and pose a serious threat to the national energy supply system," the public utility said in a statement. China was once the world's largest site for crypto mining,"
Tenaga Nasional reported losses exceeding $1 billion from illegal electricity use by cryptocurrency miners between 2020 and August. Malaysian police have intensified raids since January under a multi-agency operation with energy regulators and anti-graft authorities to address electricity theft linked to crypto mining. The utility detected 13,827 establishments suspected of illegal mining and warned such activities endanger user safety, national economic stability, public safety, and the energy supply system. After China's 2021 mining ban, some Southeast Asian locations sought to attract miners by leveraging cheap or surplus electricity, including hydropower projects in countries like Laos.
Read at www.dw.com
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