The Malaysian national power company has lost over $1 billion due to cryptocurrency electricity theft
The Malaysian Ministry of Energy stated that from 2020 to August of this year, the state-owned utility company, the national power company, has suffered losses exceeding $1 billion due to illegal electricity use by cryptocurrency miners.
The Malaysian Ministry of Energy and Water Transformation noted in a written response to Parliament dated Tuesday that the national power company discovered a total of 13,827 locations engaging in cryptocurrency mining through illegal electricity use during this period.