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Malaysia's National Energy Company: Cases of cryptojacking power theft surged to 2,397 in 2023.
According to Gate.io News bot, as reported by Financefeeds, the latest data from Malaysia's national energy company (TNB) shows that the total number of illegal crypto mining electricity theft cases in 2023 reached 2,397, nearly four times higher than in 2018. These thefts have resulted in losses exceeding 3.4 billion ringgit (approximately 720 million USD).
TNB disclosed that these illegal mining sites are mainly located in residential and commercial buildings, where operators supply power to high-power mining equipment by tampering with electricity meters. Such behavior not only increases the load on the national power grid but also causes voltage instability in the area and poses a fire hazard.