Bitcoin mining: 400% increase in power theft; RM2.3bil losses, says Takiyuddin


KUALA LUMPUR: The government viewed electricity theft through illegal bitcoin mining activities seriously as it recorded a 400% increase over the past four years, with an estimated loss of more than RM2.3bil, said Energy and Natural Resources Minister, Datuk Seri Takiyuddin Hassan (pic).

He said a total of 7,209 cases were detected, namely 610 cases in 2018, 1,043 in 2019, 2,465 in 2020 and 3,091 in 2021.

"The increase in cases is a worrying trend, as it affects not only the energy industry in terms of value, but also the stability of the electricity supply system and public safety," he said in a statement on Monday.

He said the extreme use of high-powered cryptocurrency mining machines 24 hours non-stop could cause short circuits due to the use of non-standard fuses and loads exceeding cable capacity, risking causing fires.

Illegal connection or tampering with meter installations resulted in the reading on the meter no longer showing the actual electricity consumption, thus disrupting the stability of electricity supply as demand exceeded capacity, thus affecting business activities and people’s comfort.

He said any individual found involved in power theft by tampering with the installations of Tenaga Nasional Berhad (TNB) could be fined not more than RM1,000,000 or face imprisonment not more than 10 years, or both, under the Electricity Supply Act 1990.

In addition, individuals who committed such offences could also be prosecuted under Section 379 and Section 427 of the Penal Code for theft and mischief, respectively.

"Both the owner of the premises and the individual carrying out the activity can be prosecuted under the provisions of the existing law," he said.

The ministry welcomes the cooperation of various agencies, especially the Royal Malaysia Police (PDRM), Energy Commission (ST), TNB and local authorities in combating these illegal activities.

He also urged members of the public who suspected or had information on power theft to contact ST, TNB or PDRM so that appropriate action could be taken. - Bernama

Article type: free
User access status:
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Nation

2021 was a very good year for Labuan Port, says Dr Wee
Year Four pupil run over by lorry in Penang, mum survives
Man dies in Gopeng cement factory mishap
Selangor sets five policies for operation of recycled plastic waste to prevent pollution
Jakim seeking 'hood man' over halal slaughtering issue
Croc kills man crossing river in Kinabatangan
Johor polls show BN can retake Iskandar Puteri, says MCA leader
All signs point to ex-Warisan rep joining Sabah BN
Labuan Port operating at 75% capacity, upgrade needed, says Dr Wee
GRS-BN solidarity pact can benefit Sabah and the people, says Bung

Others Also Read