Malaysia Loses Billions to Illegal Crypto Mining

Malaysia is facing a major financial loss as illegal crypto mining operations drain the country’s electricity grid. The government estimates losses of over 3.4 billion ringgit (around USD 723 million) due to the theft of power for unregulated mining activities. Industry leaders advocate for stricter regulations to curb these thefts and potentially unlock a significant legal crypto mining market by 2025, generating an estimated USD 5 billion in revenue.