Malaysia has incurred an estimated loss of RM3.4 billion in electricity supplies due to theft associated with cryptocurrency mining from 2018 to last year, revealed Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir.
Addressing reporters at an event in Balakong for the disposal of confiscated items related to electricity theft, Nasrullah highlighted the significant impact these illegal activities have on both Tenaga Nasional Berhad (TNB) and the wider community.
“The theft of electricity by those who mine cryptocurrency occurs because they believe this activity cannot be detected due to the absence of meters on their premises. However, energy supply companies have various methods to detect unusual energy consumption in an area,” he said.
The event also saw the presence of ST Chief Operating Officer Dr. V. Sanjayan and ST Area Enforcement and Operations Director Ismail Zaili Yusop. Nasrullah emphasized that combating electricity theft is a priority for his ministry, which aligns with their broader goal of enhancing green and renewable energy production.
During the disposal event, a total of 2,022 items worth RM2.2 million were destroyed, including bitcoin mining machines seized in an October 2022 operation, electrical goods lacking ST safety certification, and items involved in electrical accidents.
“These items have been 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,” Nasrullah stated.
He assured that the disposal process adheres to environmental standards, complying with the Environmental Quality Act 1974 and the Environmental Quality (Scheduled Wastes) Regulations 2005.
