Malaysian Minister: Cryptocurrency Miners Linked to $722 Million Electricity Theft

The Deputy Minister of Energy Transformation and Water Transformation of Malaysia stated that illegal cryptocurrency miners in Malaysia stole $722 million worth of electricity between 2018 and 2023. The Malay Mail reported that Akmal Nasrullah Mohd Nasir revealed this figure during an activity involving the handling of 2,022 seized items (including Bitcoin mining equipment). Akmal Nasrullah said: "Cryptocurrency miners steal electricity because they believe that this behavior cannot be detected since their premises do not have electricity meters." He added: "Energy supply companies have various methods to detect abnormal energy consumption in an area."