According to Odaily, the Deputy Minister of Energy Transition and Water Resources Transition in Malaysia has reported that illegal cryptocurrency miners in the country stole electricity worth $722 million from 2018 to 2023. The figure was revealed by Akmal Nasrullah Mohd Nasir during an event dealing with 2022 confiscated items, including Bitcoin mining equipment.
Nasir explained that the miners resorted to electricity theft because they believed their activities would go unnoticed due to the absence of electricity meters at their locations. He further added that energy supply companies have various methods to detect abnormal energy consumption in a region.
