Malaysia has experienced losses of RM3.4 billion or around IDR 11.7 trillion due to electricity theft for illegal Bitcoin mining activities from 2018 to 2023. These losses have had a significant impact on Bahan Nasional Berhad (TNB), society and the country as a whole.
Losses Due to Electricity Theft
Malaysia's Deputy Minister of Energy Transition and Water Transformation, Akmal Nasrullah Mohd Nasir, explained that illegal mining activities often go undetected because there are no meters at mining locations. However, energy supply companies can detect unusual energy consumption in certain areas.
Government Action
The Malaysian government is committed to ending electricity theft by illegal crypto miners. This is a top priority for its ministry. In addition, the government is also promoting green and renewable energy production to reduce the country's carbon footprint.
Destruction of Confiscated Goods
During the destruction of seized goods related to electricity theft in Balakong, Malaysia, 2,022 items worth a total of RM2.2 million (around Rp7.2 billion) were destroyed. These items included a Bitcoin mining rig seized in October 2022.
Global Impact
Cases of electricity theft for illegal crypto mining have also occurred in various countries, including Indonesia. In December 2023, the North Sumatra Police's Special Criminal Investigation Directorate (Dit Reskrimsus) Team raided illegal Bitcoin mining in Medan, causing state losses of Rp14.4 billion in six months.
Conclusion
The huge losses from illegal crypto mining underscore the need for stricter regulation and enforcement to protect energy resources. Governments and communities must work together to address this issue for the sake of energy sustainability and economic security.
Disclaimer
This content is for informational and reference purposes only, not investment advice or suggestions. Trading crypto assets involves risks and can result in losses. Do thorough research before investing. Use official platforms registered and supervised by BAPPEBTI for security.
