Ringgit

The situation of illegal cryptocurrency mining in Malaysia is spiraling out of control, as Tenaga Nasional Berhad (TNB) – the largest national power company in the country – reported a nearly 300% increase in electricity theft cases from 2018 to 2024.

From 610 cases in 2018, the number of electricity theft cases for cryptocurrency mining has increased to 2,397 cases in 2024, causing hundreds of millions of USD in damages and putting the national power grid in a state of overload.