Illegal crypto mining operations in Malaysia increased by 300 % between 2018 and 2024, the Malaysian Publication star reported on Monday, citing the country’s largest power efficiency company, Tenaga Namasal Brahhad (TNB). In 2018, 610 illegal mining cases were allegedly identified in Malaysia and the number was 2,397 last year. It is said that law enforcement officials in the country have begun efforts to identify them and identify the destinations, which they suspect are the beginning of unauthorized mining operations.
Crypto mining is a power -related process in which miners need to solve complex algorithms on modern computers, which need to be connected to electricity all the time. Bitcoin is the most commonly ears cryptocurrency, which allows miners to earn prizes to produce new token. The regions where crypto mining clusters are dynamic are often suffering from power shortages as well as closures.
In the past six years, Malaysian law enforcement agencies have seen complaints of power outage and suspicion of potential power theft, Report The star said. After running about 2,400 illegal cases of mining last year, Malaysia is trying to adopt strict surveillance on these activities.
Authorities found that several property owners had reported extraordinary electricity bills from their rental site. The bill was RM 30,000 (about 5.86 lakh rupees) to RM 1.2 million (about 2. 2.34 crore). After investigating the cases, authorities faced illegal mining operations by tenants. The report claims that around January this year, more than 60 houses and shops owners of the Malaysian state of Parak reported high electricity bills.
TNB has allegedly claimed that it is working with the relevant national authorities to identify, investigate and deal with the growing cases of crypto mining -related power theft. The agency is emphasizing the use of a smart meter that can maintain a record of electricity use for each property.
The report highlights that under the Malaysian power supply act, power thieves may face a jail time for a decade, as well as a fine of RM 1 million (about Rs 1.95 crore).
Currently, crypto mining in Malaysia is not at all but miners According to the notifications They need to register their operations and comply with the rules of anti -money laundering.
Malaysia is also working to finalize its web 3 and crypto strategy. In April, Malaysian Prime Minister Anwar Ibrahim met with Changpeing Xiao, co -founder of Binens to discuss the National Web 3 Roadmap. Perhaps, in the future, the country can also explain dos and donuts for crypto miners.
Global theory about Crypto mining
Last year, the International Monetary Fund (IMF) proposed a significant increase in taxes on the crypto mining business to encourage the adoption of green methods. It states that crypto mining can produce 450 million tonnes of carbon emissions by 2027, which is 1.2 % of the global total.
Like Malaysia, there are other countries where illegal crypto mining has emerged as a topic of concern. In May last year, Venezuela completely banned crypto mining and occupied thousands of mining machines.
In recent years, Norway, Russia, and Kazakhstan have also taken steps to handle illegal mining operations.
At the same time, regions like Bhutan, the Netherlands, and Uzbekistan have tried to find eco -friendly crypto mining options.