Crypto Bandits Drain Grid: Malaysia’s Top Energy Firm Sees 300% Spike in Power Theft
Mining rigs go rogue as energy theft hits crisis levels—because why pay for electricity when you can steal it and print magic internet money?
Subheader: Grid Under Siege
Malaysia’s state-owned energy giant TNB reports a tripling of illegal crypto mining operations siphoning power. Authorities are scrambling to cut off thousands of hijacked connections—some rigs even bypassing meters with direct grid taps.
Subheader: The Mining Underground
Police raids uncover warehouses full of ASICs humming away on stolen juice. ’These aren’t hobbyists,’ says one investigator. ’These are organized ops—the ROI beats drug trafficking.’
Closing jab: Guess this is what happens when your national power rates are cheaper than a hedge fund’s morning coffee—every degenerate with a GPU becomes an energy arbitrageur.
Cheap electricity, growing demand
To combat illegal crypto mining, TNB said it has expanded its "smart meter" network that tracks electricity usage via radio signals, enabling real-time detection of unusual consumption patterns.
TNB has also called for stricter enforcement of Malaysia’s Electricity Supply Act, which imposes penalties of up to $212,000 (RM1 million) in fines or 10 years in prison for tampering with the grid.
Some property owners in Malaysia only discovered their homes had been turned into covert mining farms when they were hit with bills as high as $278,400 (RM1.2 million), the TNB said, citing reports from local media.
Crypto mining rigs typically require between 1,000 watts (1 kW) and 8 kW of power, according to a 2024 study from the U.S. Energy Information Administration.
Malaysia’s electricity production stood at 15,451 Gigawatt-hours, with prices as low as $0.052 cents, December 2024 numbers from CEIC Data show.
The country’s enforcement actions against illegal crypto mining mirror what’s happening elsewhere.
Last week, Kuwaiti authorities launched an enforcement blitz, questioning 116 individuals, following the discovery of over 1,000 illegal crypto mining sites last month.
Kuwaiti authorities claim those activities have strained the national power grid and caused widespread blackouts.
Edited by Sebastian Sinclair
