Malaysia: Illegal Cryptocurrency Miners Steal $700 Million Worth of Electricity

IconCryptoNewsTerminal Staff10 Jul, 2024

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Malaysia: Illegal Cryptocurrency Miners Steal $700 Million Worth of Electricity

Malaysia’s deputy energy minister, Hasbi Habibollah, has revealed that illegal cryptocurrency miners in the country have stolen a staggering 722 million ringgit ($700 million) worth of electricity between 2018 and 2023. This alarming revelation highlights the growing concern over the illicit activities of crypto miners and their impact on the nation's energy resources. The deputy minister emphasized that the Malaysian government is determined to combat electricity theft by these illegal miners and prioritize the development of renewable energy sources to meet the country's growing electricity demand.

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