Crypto Miners Nabbed by Malaysian Power Authorities for Stealing Electricity worth $600k

Noticias • 2020/09/01 • por Remitano

The star, a local news site, published on the 1st of September that the energy commission of Malaysia nabbed some crypto miners for illegal use of electricity. The national authority, alongside local officials and a multinational electricity firm, arrested two miners for siphoning power worth of $600k in the past three years.

A regional director of Malaysia's energy commission stated that the two miners made electricity payments of just 7 to14 USD per month, but with the cooperation of the rig operators, they consumed electricity of up to $20,000 per month. One of them had a hundred rigs with continuous operations since 2017, while the other had 48 rigs working continuously for two years.

Although crypto activities including trading and mining are accepted in Malaysia, illegal siphoning of electricity by Bitcoin miners is one of the problems developing in the country.

The law guiding electricity supply in Malaysia says there's a maximum penalty of $1.2 million or a jail term of ten years for illegal use of electricity.

An engineer at Tenaga says this year has been rampaged with power theft with authorities raiding 90 other comparable installations, summing up to 288 in the last two years.

Source: Cointelegraph

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