Malaysian Minister: $722 Million Power Theft Linked to Crypto Miners

Illegal cryptocurrency miners in Malaysia stole $722 million worth of electricity between 2018 and 2023, according to the country's deputy minister of energy transformation and water transformation. Akmal Nasrullah Mohd Nasir revealed the figure at an event to handle 2,022 seized items, including Bitcoin mining equipment, according to Malay Mail. "Crypto miners steal electricity because they believe that this behavior cannot be detected because their premises do not have electricity meters," Akmal Nasrullah said. "Energy supply companies have various methods to detect abnormal energy consumption in an area," he added.