Malaysia’s Largest Energy Firm Reports 300% Rise in Crypto-Linked Power Theft

The largest national electricity company in Malaysia, Tenaga Nasional Berhad (TNB), helps the authorities to limit electricity theft associated with illegal crypto -mining activities in the country, which claims that it has risen almost 300% in the last six years.

The increase in complaints “reflects the increasing public awareness of reporting on illegal crypto -my -construction activities,” according to a rack Commanded by TNB to local media on Monday.

Of the 610 cases that discovered it for the first time in 2018, the number has risen to 2,397 cases by 2024, TNB said.

The increase is attributed to unauthorized miners who transfer subsidized electricity through tampered or bypassed meters, who cost the company hundreds of millions of and destabilizing the schedule.

In the meantime, the Malaysian authorities have launched national raids, collaborating with regulators, anti-corruption officers and local councils to dismantle underground mining arrangements.

Those enforcement actions have “protected the stability of the energy network,” said the electricity provider.

TBN did not immediately respond to a request for comment.

Cheap electricity, growing demand

To combat illegal crypto -mining, TNB said that it has expanded its “smart meter” network that electricity use follows via radio signals, making real -time detection of unusual consumption patterns possible.

TNB has also called for stricter enforcement of Malaysia Electricity supplyThose fines of a maximum of $ 212,000 (RM1 million) impose fines or 10 years in prison for messing around with the schedule.

Some property owners in Malaysia only discovered that their houses had been converted into secret mine farms when they were hit with bills up to $ 278,400 (RM1.2 million), the TNB said, stating report From local media.

Crypto -mining installations usually require between 1,000 watts (1 kW) and 8 kW power, according to a 2024 study of the US Energy Information Administration.

The electricity production of Malaysia was 15,451 Gigawatt hours, with prices as low as $ 0.052 cents, December 2024 figures CEIC data shows.

The enforcement actions of the country against illegal crypto -mining mirror mirror what is happening elsewhere.

Last week the Kuwaitse authorities launched one Enforcement Blitzquestioning 116 individuals, after the discovery of over 1,000 illegal crypto -mining places last month.

Kuwaitse Authorities claim that those activities have stretched the National Power Grid and caused widespread Black -outs.

Edited by Sebastian Sinclair