Malaysia has lost over 3.4 billion ringgit (USD 723 million) to electricity theft tied to illegal crypto mining operations.
Industry leaders urge regulatory reforms to curb theft and unlock a USD 5 billion legal crypto mining market by 2025.
Malaysia’s been hit hard with RM3.4 billion gone, which comes out to around USD 723 million, all because of power being stolen for illegal crypto mining. That’s Ringgit Malaysia, the country’s own currency, just draining away while rogue miners run their setups off the grid and don’t pay a single sen.
People in the crypto scene are starting to call it out. They’re not just worried about the bad press but it’s about cleaning up the space and giving miners a proper shot. A lot of analysts are saying what’s missing is clear rules. Right now, it’s all in a weird area, and that’s exactly why these setups keep popping up. With the right framework in place, Malaysia could actually flip this around. There’s poten
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