Explosion due to illegal Bitcoin mining in Malaysia: electricity theft losses amount to $763 million since 2018, authorities strengthen measures against violations

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A blast occurred in Malaysia due to an illegal Bitcoin mining operation connected to an illegal power grid hookup. As a result of the incident, nine mining rigs and other equipment were seized. This situation highlights the growing problem of illegal crypto mining, which has caused damage amounting to more than $763 million since 2018. Malaysian authorities are tightening measures against illegal electricity usage and applying new technologies to detect such violations in order to protect the country’s power grid.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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