The number of documented facts of illegal connection to the Malaysian energy networks for the sake of mining increased from 610 in 2018 to 2397 in 2024, showed data TNB.
From January 2020 to December 2024, employees of the energy company annually identified on average more than 2000 cases of theft of electricity associated with underground mining. Over the same period, the average annual number of complaints about the overload of electric lines due to the illegal connection of the mining equipment of the accident reached 1699-an average of 340 per month.
The power engineers said that the increase in the number of cases of electricity thefts is explained by the fact that against the backdrop of the popularity of cryptocurrencies, underground miners through fake or bypass counters are trying to use electricity subsidized by the state to extract cryptocurrencies. This costs TNB hundreds of millions of Malaysian Renggites, energy are complaining.
TNB called on the Malaysian authorities to tighten the punishment for the theft of electricity. Now the punishment provides fines up to $ 212,000 or up to 10 years in prison.
Earlier, the Central Bank of Malaysia, Bank NEGARA MALAYSIA, said that he would delve into the study of asset tokenization, but is not going to recognize cryptocurrencies by a legal payment tool.
Source: Bits
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