According to a report by CoinDesk on May 13, the Malaysian National Energy Company (TNB) disclosed that the number of illegal cryptocurrency mining 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 significantly risen after 2020, with an average of 2,303 cases seized annually between 2020 and 2024. TNB stated that increased public awareness of reporting is one of the reasons for the rise in cases.
Although Malaysia has not banned cryptocurrency mining, according to the Electricity Supply Act, tampering with electricity facilities can result in a maximum sentence of 10 years in prison and a fine of 1 million ringgit (approximately $233,000). TNB, the National Energy Commission, and the police have conducted nationwide raids, recently uncovering several cases of residential properties being converted into mining operations.