Illegal crypto mining and electricity theft cases in Malaysia have increased by 300% since 2018

PANews reported on May 13 that according to CoinDesk, Malaysia's National Energy Company (TNB) disclosed that the number of illegal crypto mining and electricity theft cases seized in the country surged from 610 in 2018 to 2,397 in 2024, an increase of 300%. The number of cases has increased significantly since 2020, with an average of 2,303 cases seized annually between 2020 and 2024. TNB said that increased public awareness of reporting is one of the reasons for the increase in the number of cases.

Although Malaysia does not ban crypto mining, according to the Electricity Supply Act, tampering with power facilities can be punished by up to 10 years in prison and a fine of 1 million ringgit (about 233,000 US dollars). TNB, together with the Energy Commission and the police, conducted nationwide surprise inspections and recently discovered several cases of residential buildings being converted into mining farms.