Officials crack down on $1 billion cryptocurrency scheme: 'Suspected of being involved' [Yahoo! Finance]
TENAGA NASIONAL BERHD ADR (TNABY)
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Source: Yahoo! Finance
Tenaga Nasional Bhd, Malaysia's national utility firm, was recently discovered to have lost upward of $1 billion USD between 2020 and August 2025. According to the South China Morning Post , this was due to "illegal power usage by cryptocurrency miners." The mining took place across thousands of locations that had used power not for stereotypical means, but specifically to mine crypto in a way that racked up devastating financial losses. To mine crypto, specific computer programs must be used that can complete difficult equations and link blockchains together to form proof of work or proof of stake. Those who participated in the crypto mining scheme exploited energy grids to their advantage to power their mining machines, primarily focused on bitcoin. The Malaysian energy and water transformation ministry noted that "in an effort to curb this issue, a database that stores complete records of owners and tenants of premises suspected of being involved in electricity theft rel
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