$723 million in electricity stolen by Malaysia’s illegal Crypto miner
Illegal Cryptocurrency Mining in Malaysia:
- Illegal crypto mining operations have stolen around $723 million worth of electricity between 2018 and 2023.
- Electricity robbers bypass official registration, manipulate meters, or divert power directly from lines.
- Malaysian officials have been confiscating cryptocurrency mining equipment since August 2019.
- Seized machines have been destroyed by steamrollers as part of the crackdown on illicit mining activities.
- Mining cryptocurrency is legal in Malaysia, but stealing electricity for this purpose is illegal.
Unregistered Crypto Exchanges in Malaysia:
- Malaysia is cracking down on unregistered cryptocurrency exchanges.
- Only six cryptocurrency trading platforms are currently registered in Malaysia.
- Securities Commission Malaysia ordered Huobi Global to cease operations for failing to register its trading services.
Cryptocurrency Market Update:
- Today, the cryptocurrency market is down by 2%.
- Top crypto assets like Bitcoin (BTC), BNB (BNB), Solana (SOL), and Toncoin (TON) experienced a price drop in the last 24 hours.
- BTC, BNB, SOL, and TON saw price drops of over 0.3%, 1.5%, 0.5%, and 2.6% respectively.
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Technical Analysis for BNB
Technical Sentiment Analysis for BNB (BNB). As of , BNB (BNB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BNB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BNB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
BNB (BNB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 351.293 | 460.677 | 546.563 | 655.947 | 741.833 | 851.217 | 937.103 |
| Fibonacci | 460.677 | 535.27 | 581.354 | 655.947 | 730.54 | 776.624 | 851.217 |
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