Power Thefts from Illegal Crypto Mining Jumped 300% in 6 Years: Malaysian Electricity Board

Tenaga Nasional Berhad (TNB), Malaysia’s largest electricity utility provider, noted that power thefts linked to illegal crypto mining have soared 300% from 2018 to 2024. The board added that illegal mining has increased due to the global crypto transactions, local media reported.TNB derived the statistics through a joint operation involving the Energy Commission, the Malaysian Anti-Corruption Commission, police and local councils.According to the electricity board data, there were 610 detected cases of power theft in 2018, linked to illegal mining. The numbers have shot up to 2,397 in 2024, it added.“Joint operations and nationwide raids have successfully shut down illegal mining setups,” TNB said in a statement. “These enforcement actions have safeguarded the stability of the power grid.”The stats revealed that the average number of crypto-related electricity thefts stood at 2,303 per year from 2020 to 2024.TNB Deploys ‘Smart Meter’ to Detect Power TheftsThe board received around 1,699 crypto-related complaints between January 2020 and December 2024, with an average of 340 per month.“The number of complaints reflects increasing public awareness of reporting on illicit crypto mining activities,” TNB said.Further, the electricity provider has deployed ‘smart meters,’ which could improve detection of electricity theft and enable efficient monitoring.The strategy came after the board conducted a continuous consumption patterns analysis to spot suspicious energy usage.“We work closely with the relevant authorities and stakeholders to uphold fair and sustainable electricity usage, therefore ensuring reliability for all customers.”The smart meter device records the daily electricity usage and communicates the numbers to the TNB through radio-­frequency waves.Additionally, the board has proposed employing AI and predictive analytics to further improve the process, the report read.When it comes to legal enforcement, the TNB has proposed stricter actions under the Electricity Supply Act. Anyone who tampers with or alters any electricity installation is liable to a fine of up to 1 million Ringgit ($232K), imprisonment for up to 10 years, or both.Over Half a Billion Ringgit Lost to Energy Thefts: CID DirectorDatuk Seri Mohd Shuhaily Mohd Zain, director of Bukit Aman Criminal Investi­gation Department (CID), noted that TNB lost about 520 million Ringgit ($121 million) to electricity thefts.“Most of the cases involved illegal crypto mining operations,” he told The Star.Besides, he noted that crypto mining syndicates often operate from rented shops, warehouses or residential homes with low foot traffic.“Many syndicates would then install heavy-duty ventilation ­systems, air conditioners and soundproofing materials to avoid drawing attention from the neighbours or enforcement authorities.”Further, these criminals illegally bypass the electricity meter by tapping directly into the main power grid for surplus electricity consumption.“This allows them to consume massive amounts of electricity – often equivalent to what an entire residential block would use,” the officer said, adding that these syndicates don’t stick to a single place to avoid attention.“They would shift their operations every few months to new premises,” he noted.In February, Malaysian police uncovered an illegal Bitcoin mining setup, following an explosion at the house that hosted the operation. The investigations found that the electricity had been connected illegally for bitcoin mining, causing a short circuit.The post Power Thefts from Illegal Crypto Mining Jumped 300% in 6 Years: Malaysian Electricity Board appeared first on Cryptonews.