Malaysia’s Largest Energy Firm Reports 300% Rise in Crypto-Linked Power Theft
Tenaga Nasional Berhad (TNB), Malaysia's largest electric utility, is addressing a nearly 300% increase in electricity theft linked to illegal crypto mining, with cases rising from 610 in 2018 to 2,397 by 2024. Unauthorized miners are reportedly siphoning subsidized electricity through tampered meters, costing TNB hundreds of millions and destabilizing the power grid. Malaysian authorities have initiated nationwide raids to dismantle these operations, collaborating with regulators and local councils. TNB has expanded its smart meter network for real-time monitoring of electricity usage and advocates for stricter enforcement of the Electricity Supply Act, which imposes severe penalties for grid tampering. Some property owners have faced exorbitant bills after discovering covert mining activities. The situation in Malaysia reflects similar enforcement actions in other countries, such as Kuwait, where authorities are also combating illegal crypto mining operations.
