Kuala lumpur: More than 75,000 cryptocurrency mining machines have been seized in over 3,000 raids nationwide between 2022 and May this year, Deputy Home Minister Datuk Seri Dr Shamsul Anuar said. He highlighted that 629 individuals were arrested during coordinated operations involving the Royal Malaysia Police, Tenaga Nasional Berhad (TNB), local authorities, and other relevant agencies.

According to BERNAMA News Agency, the Home Ministry (KDN) is enhancing its enforcement strategy by collaborating with agencies such as TNB, and strengthening intelligence gathering and technology use to identify potential hotspots before conducting operations. This approach is deemed essential to ensure faster response times and more precise actions during raids.

Dr Shamsul Anuar was responding to a supplementary question by Datuk Siti Zailah Mohd Yusoff (PN-Rantau Panjang) regarding measures to monitor illegal cryptocurrency mining activities and the extent of losses faced by TNB. He noted that the illegal activity persists due to the strong demand for digital assets and the potential for significant profits from their price fluctuations. He emphasized that while profits may be a motivation, they do not justify illegal activities, such as electricity theft to reduce operating expenses.

While cryptocurrency ownership and trading are permitted in Malaysia, Dr Shamsul Anuar clarified that it is not recognized as legal tender. Cryptocurrency mining activities become illegal when they involve unauthorized electricity connections, tampering with meters, disrupting power supply systems, or operating without the necessary licenses. The Securities Commission Malaysia regulates digital assets under the relevant legislation, while Bank Negara Malaysia oversees financial stability, payment systems, and compliance with anti-money laundering rules.