Malaysian Deputy Minister of Energy: Illegal crypto miners have stolen $722 million worth of electricity over the past 6 years

ChainCatcher news, according to Protos, the Deputy Minister of Energy Transition and Water Resources of Malaysia stated that from 2018 to 2023, illegal cryptocurrency miners in Malaysia stole electricity worth $722 million.

According to the Malay Mail, Akmal Nasrullah Mohd Nasir revealed this figure during an event involving the handling of 2,022 seized items, including Bitcoin mining equipment.

Akmal Nasrullah stated, "Cryptocurrency miners steal electricity because their locations do not have meters, making this behavior undetectable. However, energy supply companies have various methods to detect abnormal energy consumption in an area."

In addition, he claimed that preventing cryptocurrency miners from stealing electricity is a top priority for the Malaysian government.