Malaysian Firm Tenaga Nasional Bhd (TNB) Reports Crypto Miners Stealing $25 Million in Electricity
Tenaga Nasional Bhd (TNB), an electric power company from Malaysia, has recently accused Bitcoin miners of robbing electricity from it. According to the company, around $25 million USD worth of electric power was lost due to Bitcoin miners who illegally used it.
The reports affirm that these miners tampered with the distribution boards of the company in order to finance their operations without having to pay for them. The company found 437 cases of people tampering with their systems in order to mine BTC in the country. Most of the cases, 370, were all recorded in the same state, Selangor.
A manager at the company, Siti Sarah Johana Mohd Said, affirmed that the company has decided to take against the people who stole electricity. After disconnecting the person’s electricity, a letter of demand will be sent to the owner of the places that were stealing energy.
Power theft can result in a fine of $24,000 USD or three years in jail in Malaysia. The company is allowed by law to disconnect the electricity of these residences and farms for up until three months. After that, it has to enable it again, but it can file a claim for the payments that were not done.
Recently, the authorities of the country were responsible for raiding 33 places related to each other that were illegally stealing electricity from the TNB. These places, together, stole around $761,000 USD worth of electricity, the highest individual amount by one group so far.
Unfortunately, stealing energy to mine BTC is common all around the world. Recent cases were reported in both Germany and China, for example. In all of these countries, people can go to prison for committing this crime.