Malaysia Sees 300% Surge in Power Theft Tied to Illegal Crypto Mining – TNB

Power theft associated with illegal cryptocurrency mining has surged by more than 300% in Malaysia over the last six years, according to Tenaga Nasional Berhad (TNB), the country’s largest electricity provider. The increase in power theft corresponds with the growing global demand for cryptocurrencies, as local media reported.This sharp rise in illegal mining operations was revealed through a joint enforcement initiative involving the Energy Commission, the Malaysian Anti-Corruption Commission (MACC), local authorities, and law enforcement agencies.In 2018, authorities detected 610 cases of electricity theft related to unauthorized crypto mining. By 2024, that figure had surged to 2,397, highlighting a significant escalation in the illegal use of electricity for mining purposes.“These coordinated nationwide raids have led to the closure of numerous illegal mining operations,”TNB said in a statement.“These efforts have been essential in protecting the stability of the national power grid.”From 2020 to 2024, Malaysia averaged 2,303 cases of crypto-related electricity theft annually, underscoring the ongoing challenge despite continuous crackdowns. Additionally, between January 2020 and December 2024, TNB received 1,699 public complaints—an average of 340 complaints per month—regarding illicit crypto-mining activities. This trend signals increasing public awareness and vigilance in reporting suspicious energy usage.In response to the growing issue, TNB has introduced smart meters across the country to improve the detection of unusual electricity consumption patterns, aiding in identifying potential illegal mining operations. The company employs advanced analytics to monitor spikes in electricity usage linked to crypto-mining activities. TNB is dedicated to collaborating with government agencies and stakeholders to promote responsible energy use and maintain the reliability of the national power grid.In a related development, Kuwait, once considered a haven for cost-effective Bitcoin mining, has launched a broad crackdown on the practice in response to an intensifying national energy crisis. Authorities began targeting residential properties involved in crypto mining on May 1, highlighting the country’s power grid strain. If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”The post Malaysia Sees 300% Surge in Power Theft Tied to Illegal Crypto Mining – TNB appeared first on DeFi Planet.