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Malaysia TNB: Cryptojacking has caused a fourfold increase in electricity theft, with losses exceeding 3.4 billion ringgit.
According to Wu's report from Financefeeds, the Malaysian national energy company (TNB) disclosed that in 2023, there were 2,397 cases of electricity theft due to illegal crypto mining, nearly quadrupling from 2018, with total losses exceeding 3.4 billion ringgit (approximately 720 million USD). TNB pointed out that these illegal mining farms are often located in residential or commercial buildings, operating high-power mining equipment by tampering with electricity meters, which places a severe burden on the national power grid and poses risks of voltage instability and fire.