tnb

According to Reuters, Malaysia's national power company TNB stated that illegal electricity usage for cryptocurrency mining has caused losses of approximately $1.1 billion (about 4.6 billion ringgit) from 2020 to August this year.The authorities disclosed that a total of 13,827 locations suspected of electricity theft were seized, with related activities involving tampering with electricity meters and illegal connections, which are violations under the Electricity Supply Act. TNB has collaborated with the police, communication regulators, and anti-corruption agencies to carry out actions, seizing Bitcoin mining machines and establishing a database of property owners and tenants involved in the case for monitoring and enforcement; at the same time, smart meters have been deployed at distribution substations to detect abnormal energy usage in real-time.

ChainCatcher news, according to chainwire, the stablecoin payment platform PEXX announced the completion of a $4.5 million seed round financing, led by TNB Aura, with participation from early venture capital firm Antler, Filecoin early supporter EMO Capital, and other venture capital and cryptocurrency investors.It is reported that PEXX's payment platform allows users holding Tether (USDT) and Circle (USDC) stablecoins to transfer their assets directly to bank accounts, helping individuals and businesses conduct cross-border transactions without intermediaries or bank accounts.