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Showing posts with label Bitcoin mining. Show all posts
Showing posts with label Bitcoin mining. Show all posts

Wednesday, November 26, 2025

Billions lost to Bitcoin farms

 

KUALA LUMPUR: Malaysia suffered losses amounting to RM4.57bil from illegal electricity use linked to bitcoin mining activities over the past five years.

Deputy Prime Minister Datuk Seri Fadillah Yusof (pic), who disclosed this to Parliament yesterday, said 13,827 premises were caught by Tenaga Nasional Bhd (TNB) for stealing electricity to power crypto­currency mining operations, mainly bitcoin farms, since 2020.

“This activity does not only pose safety risks to consumers, it also threatens the stability of our economy and presents a serious danger to the national energy supply system,” he said in a parliamentary written reply.

Fadillah, who is Energy Transition and Water Transfor­mation Minister, said the scale of losses required a robust response, with TNB developing an internal database containing complete records of owners and tenants of premises suspected of electricity theft for crypto-mining purposes.

“This database plays a crucial role in identifying and monitoring suspicious premises and forms the basis for enforcement inspections,” he added.

Fadillah said TNB, in cooperation with the ministry, Energy Commission (ST) and enforcement agencies, has intensified coordinated operations to combat the illicit activity.

This included joint raids with the police, National Anti-Financial Crime Centre, Malaysian Commu­nications and Multimedia Com­mission, CyberSecurity Malaysia, Inland Revenue Board, local authorities and Malaysian Anti-Corruption Commission.

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“Through these collaborations, TNB is able to seize bitcoin mining machines and take effective action against the perpetrators,” he said.

According to him, public awareness campaigns have also been rolled out via press statements, TV segments and various mass communication channels to educate the public on the dangers of electricity theft and to encourage tip-offs through TNB’s ­official reporting channels.

Fadillah said further measures included stakeholder engagements with MPs, ministries, ST and judicial officers, as well as technical monitoring under the Distribution Trans­former Meter pilot project to detect abnormal usage patterns and potential theft.

Smart meters are also being installed to enable real-time ­monitoring and quick detection of meter tampering.

“The ministry, together with ST and TNB, remains committed to curbing meter interference and the illegal use of electricity, especially for bitcoin mining.

“These integrated enforcement efforts, awareness programmes and strategic engagements are essential to minimising losses to the electricity supply industry and safeguarding the integrity of the nation’s energy system,” he said.

Separately, Deputy Energy Transition and Water Trans­formation Minister Akmal Nasrullah Mohd Nasir said they had established a multi-agency committee to tackle electricity theft linked to illegal bitcoin ­mining operations.

The committee include representatives from the Finance Ministry, Digital Ministry, Home Ministry, Bank Negara Malaysia and the police, and will examine policy, legal and cross-agency issues related to fraudulent power use.

“The committee will also facilitate matters that require intervention at the policy level to curb electricity theft.

“Instead of viewing this only from the enforcement angle, the committee will adopt a holistic approach,” he said during the committee-stage winding-up of the 2026 Supply Bill for the ministry yesterday.


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Monday, March 7, 2022

TNB mulls legalising Bitcoin mining to prevent illegal electricity tapping

 

In light of the rampant illegal bitcoin mining operations and financial losses from illegal electricity tapping nationwide, Tenaga Nasional Bhd (TNB) is looking at ways to legalise mining operations by imposing special tariffs. - NSTP file pic


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PUTRAJAYA: In light of the rampant illegal bitcoin mining operations and financial losses from illegal electricity tapping nationwide, Tenaga Nasional Bhd (TNB) is looking at ways to legalise mining operations by imposing special tariffs.
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TNB chairman and chief executive officer Datuk Baharin Din said a proposal has been drawn up with special tariff rates for Bitcoin mining and this had been forwarded to the Energy Commission (EC) for approval.
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"We have made a proposal with our recommendations to legalise Bitcoin mining by charging them a special commercial rate but the proposal is still being reviewed by the EC," he said.
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Baharin said they first discovered the electricity tapping for Bitcoin mining in 2018 when at a time there were only 610 cases. 

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"But, last year the numbers jumped to 3,090 premises being used, and the tapping was done haphazardly, with the illegal operations posing a huge risk to the premises as well as others in the vicinity, through electricity sharing.
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"In addition, the (electricity) volume these illegal miners have been tapping was also way too high and detrimental to everyone," he said.
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Baharin said to undertake such tapping exercises, a person must be technically competent because it is a highly risky venture.
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"There are no safety elements included while they tap the electricity illegally for the machines and it can catch fire easily or cause a power outage," he said.
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Baharin was speaking to reporters after sharing the recent success of Op Power, a nationwide joint operation by MACC, police, EC and TNB which managed to cripple 998 illegal Bitcoin mining premises last month.
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Also present at the press conference today were MACC chief commissioner Tan Sri Azam Baki and EC chief executive officer Abdul Razib Dalwood.
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Azam said 18 suspects have been arrested and TNB losses from 2018 until last year are estimated to be RM2.3 billion.
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"The raids were carried out in Perak, Selangor, Pahang, Kedah, Melaka, Johor and Penang whereby 998 premises were found to have tampered to draw electricity (illegally).
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"We also identified 23 suspects paying and accepting bribes to allow these premises to operate but five have not been picked up due to Covid-19," he said.
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He said those arrested were receiving and paying money so that these illegal operations can be carried out.
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"One of the suspects picked up ran 500 premises on his own and on estimation, he pays about RM500 a month for each," he said, adding that the total bribe for the Os Power is estimated to be RM2.37 million.
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Azam said the payments were made either through cash or cryptocurrency monthly to and from these suspects.
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He said MACC has also frozen 126 accounts totalling up to RM4.47 million and seized 1,157 mining machines worth RM2.3 million in last month's nationwide joint operation.
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He said all those arrested will be charged for money laundering under the MACC Anti Money Laundering Act 2001.

 

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Related News

 

How TNB is trying to stop illegal Bitcoin mining - The Edge ...

https://www.theedgemarkets.com/article/how-tnb-trying-stop-illegal-bitcoin-mining


How TNB is trying to stop illegal bitcoin mining | The Star

How TNB is trying to stop illegal bitcoin mining


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