Since 2018, the number of illegal cryptocurrency mining and electricity theft cases in Malaysia has increased by 300%

According to CoinDesk, Malaysia's National Energy Company (TNB) has revealed that the number of illegal cryptocurrency mining and electricity theft cases detected in the country has surged from 610 in 2018 to 2397 in 2024, a 300% increase. The number of cases has significantly increased since 2020, with an average of 2303 cases detected annually between 2020 and 2024. TNB stated that the increasing public awareness of reporting is one of the reasons for the rise in the number of cases. Although Malaysia has not banned cryptocurrency mining, according to the Electricity Supply Act, tampering with power facilities can result in a maximum sentence of 10 years in prison and a fine of 1 million ringgit (approximately 233000 US dollars). The TNB Joint Energy Committee and the police conducted a nationwide surprise inspection and recently seized multiple cases of converting residential buildings into mining sites.