In a saucepan, heat the milk, sugar, butter, and cocoa powder over medium heat, stirring until fully combined.
Pour the mixture over the crushed biscuits and mix well until everything is evenly coated.
Press the mixture into a lined baking dish, creating an even layer.
Sprinkle the coconut flakes on top, pressing them lightly into the mixture.
Melt the white chocolate with the vegetable oil in a microwave or double boiler until smooth.
Pour the melted white chocolate over the coconut layer and sprinkle with chopped peanuts.
Refrigerate for at least 1 hour until firm. Slice and enjoy!