RM3.4bil in stolen power lost nationwide since 2018 due to illegal crypto mining

KUALA LUMPUR: The country has lost as much as RM3.4bil from 2018 to 2023 due to electricity stolen for illegal cryptocurrency mining, says Akmal Nasrullah Mohd Nasir.

The Deputy Energy Transition and Water Transformation Minister said illegal cryptocurrency mining was becoming more widespread and detrimental to Tenaga Nasional Berhad (TNB) as well as the people and the country.

“(Illegal) cryptocurrency miners think their activities cannot be detected if there are no metres on their premises. However, energy supply companies can detect unusual energy consumption in a specific area,” he said when disposing of seized goods related to electricity theft and electrical equipment without security certificates from the Energy Commission (ST) in Balakong near here on Wednesday (July 10).

Also present were ST chief operating officer Dr V Sanjayan and ST area enforcement and operations director Ismail Zaili Yusop.

Akmal Nasrullah said efforts to combat electricity theft are a priority for his ministry, alongside increasing the production of green and renewable energy.

Commenting on the event, Akmal Nasrullah said 2,022 seized items worth RM2.2mil were disposed of.

He said items included bitcoin mining machines seized in October 2022, electrical goods that did not have an ST safety certificate and other goods involved in electrical accident cases.

“These items were ordered to be disposed of by the Deputy Public Prosecutor in accordance with Sections 406A and 407 of the Criminal Procedure Code after going through the court and compound process,” he said.

He added that the electrical goods were disposed of sustainably, in compliance with the Environmental Quality Act 1974 and the Environmental Quality (Scheduled Wastes) Regulations 2005. – BK