马来西亚

🏠 Fire breaks out in a residential area in Malaysia, illegal Bitcoin mining exposed!

Last Tuesday, an explosion occurred in a house located on Bandar Puncak Alam in Kuala Lumpur, the capital of Malaysia, followed by thick smoke. Local police and firefighters rushed to the scene and discovered illegal Bitcoin mining activities inside the house.

Investigations revealed that the electrical system of the house had been illegally modified to connect to the national power grid, causing a short circuit that led to the fire. The police, in collaboration with the national energy company (TNB), uncovered nine Bitcoin mining machines, nine blowers, and a D-link router at the site. This incident further highlights the serious issue of illegal cryptocurrency mining in Malaysia.

Although mining itself is not illegal in Malaysia, stealing electricity is a serious offense, with penalties of up to 100,000 ringgit (approximately $22,500) or five years in prison.

From 2018 to 2023, Malaysia has lost approximately $723 million due to these illegal mining activities.

In a crackdown operation in October 2022, authorities seized and destroyed over 2,000 uncertified mining devices worth $467,000.

Last August, Malaysian authorities also arrested seven individuals suspected of stealing electricity to mine Bitcoin. Among them, three were locals and four were foreigners, and they had no prior criminal records. Police also confiscated 52 mining devices and some electronics, with a total value of about $57,000.

The Malaysian government is taking this issue seriously; last year, they used a road roller to destroy 985 mining devices that had been confiscated during previous law enforcement operations, with a total value of approximately 1,980,000 ringgit (about $450,000).

This incident also reminds us that while cryptocurrency mining may sound high-tech, it can hide many safety hazards! The situation in Malaysia may just be the tip of the iceberg; we will continue to monitor its developments.

💬 What are your views and suggestions on the safety issues related to cryptocurrency mining? See you in the comments!

#马来西亚 #比特币挖矿 #非法挖矿 #电力危机

🔋Malaysia's electric utility company suffers $100 million loss due to illegal Bitcoin mining⚡️

Do you know the impact of Bitcoin mining on the power grid? Mining one Bitcoin consumes 155,000 kWh of electricity, while a single transaction uses about 851 kWh, which is almost equivalent to a month's electricity usage for an American household!

However, in Malaysia, the national power supplier Tenaga Nasional Berhad (TNB) has been severely impacted by illegal mining, suffering losses exceeding 440 million ringgit (approximately $101 million).

Reports indicate that TNB has been operating at a loss since 2020, and this number has been increasing each year. From 2018 to 2023, their total losses have surpassed $755 million.

As a result, the Malaysian government is taking strict measures to combat this tax evasion, with the criminal investigation department looking into these theft cases and the reasons behind the escalating losses.

The findings show that, although cryptocurrency mining constitutes only a small portion of Malaysia’s total consumption, it has had a significant economic impact. In addition to TNB's losses, over $500,000 worth of electrical equipment related to illegal mining activities has also been confiscated.

So, how does Bitcoin mining affect power companies? Simply put, mining requires substantial computing power and energy. In countries with ample power supply, this may tempt some individuals to evade payments and engage in illegal mining.

This is not just a problem in Malaysia; many countries and regions around the world are facing the pressure brought on by Bitcoin mining. While for some newcomers, mining may be profitable, its impact on the power grid is enormous and could even affect the electricity supply for ordinary households.

However, the challenges of Bitcoin mining are global, and its immense demand for electricity not only threatens grid stability but may also affect every household's power supply. This challenge is closely related to each of our lives and cannot be ignored.

In summary, in the face of the growing pressure of Bitcoin mining on the power system, we urgently need to seek more environmentally friendly and efficient mining solutions aimed at promoting Bitcoin mining toward a greener and more sustainable future.

In this digital age, how to balance the demands of cryptocurrency mining and power supply is also a thought-provoking issue!

#比特币挖矿 #电力公司损失 #马来西亚