Malaysia is facing a troubling rise in electricity theft associated with illegal cryptocurrency mining, which poses a significant challenge for authorities.
Scale of the Electricity Theft Problem
Data from CoinDesk and The Star indicates that electricity theft cases in Malaysia have increased by approximately 300% from 2018 to 2024, with TNB reporting a jump from 610 cases to 2,397 in that timeframe.
Reasons Behind Illegal Crypto Mining
While crypto mining is not illegal in Malaysia, the means by which it is powered can be. Illegal operators reduce costs by tampering with electrical installations to bypass legal connections.
Malaysia's Response to the Situation
Authorities in Malaysia, working with TNB, have increased surveillance, conducted raids on suspected illegal operations, and are implementing public awareness campaigns about the consequences of electricity theft.
The alarming rise in electricity theft related to illegal crypto mining presents a significant challenge for Malaysia. Ongoing efforts to curb these activities are crucial for maintaining the integrity of the energy supply.
