Stunning crypto crime trend results in over $1 billion loss — here's what's happening [Yahoo! Finance]
TENAGA NASIONAL BERHD ADR (TNABY)
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Source: Yahoo! Finance
The environmental effects of the practice have garnered significant attention, as have unscrupulous people involved in the industry. Examples of this are global, with one recent case coming out of Malaysia. Illegal cryptocurrency mining operations have resulted in losses of over one billion dollars for the multinational power company Tenaga Nasional, headquartered in Kuala Lumpur, according to Bitcoin World. The mining of cryptocurrency requires the use of significant amounts of power, so the ability to circumvent payment can result in tremendous financial misappropriation. Illegal miners employed sophisticated systems to evade paying proper rates for the power they were using. Their methods appear to have included tampering with meters and making direct, unauthorized connections to powerlines. There are many arguments for and against the practice of crypto mining. Opponents say the massive energy needs of the operations pose tremendous environmental hazards and make power mor
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