Crypto miners in the Southeast Asian nation stole at least $722 million worth of electricity over approximately six years.
Malaysia’s energy official said cracking down on illegal crypto mining operations is a high priority for the energy ministry.
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, including bitcoin mining rigs the authorities seized in October 2022.
The official added that prioritizing the combat against electricity theft is a key focus for his ministry, along with boosting the generation of green and renewable energy, according to the report.
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