NFT News by Thebittimes.Com

Illegal Malaysian crypto miners stole $722 million worth of electricity between 2018 and 2023, according to the country’s deputy minister of energy transition and water transformation. As reported by Malay Mail, Akmal Nasrullah Mohd Nasir revealed the figure at an event to mark the disposal of 2,022 seized items, including bitcoin mining equipment. “The theft of electricity by those who mine cryptocurrency occurs because they believe this activity cannot be detected due to the absence of meters on their premises,” said Akmal Nasrullah. He added, “Energy supply companies have various methods to detect unusual energy consumption in an area.” Weed and crypto behind record electricity theft in England and Wales Read more: Europol says alleged crypto miner made millions from stolen electricity He also claimed that stopping crypto miners from stealing electricity is a priority for Malaysia’s government. This is alongside boosting the production of renewable ...

Bitcoin.com chairman Roger Ver has been named a duke of Joseon and has been awarded the position of minister of finance. Mark Karpelès, the former CEO of the defunct cryptocurrency exchange Mt. Gox, has received the same title and will serve as the minister of technology. Joseon, a so-called ‘cyber nation-state,’ takes its name from a former Kingdom of Korea and claims to offer the opportunity to “run your business without archaic regulation.”  Besides inheriting the name, the ’empire’ of Joseon maintains the tradition of hereditary accession to the throne. The current ‘king’ is Andrew Lee who previously started a virtual private network provider called Private Internet Access. The last emperor died childless so Lee’s claim derives from the line of the brother of the last emperor.  Joseon, lacking the type of physical presence most nation-states rely on, has instead decided to use ‘denizenship’ instead of citizenship...