Malaysia's national utility firm Tenaga Nasional Bhd (TNB) has incurred losses of more than $1 billion from illegal power usage by cryptocurrency miners between 2020 and August this year, the energy ministry said.TNB (TENA.KL), opens new tab found that 13,827 premises had illegally used power to mine cryptocurrency over the period, the energy and water transformation ministry said in a written parliamentary reply dated Tuesday.
I can't tell but it sounds like they may be retroactively regulating arbitrage.
Though there are no specific laws governing cryptocurrency mining, tampering with meters or using connections to bypass them are offenses under the Electricity Supply Act.The ministry said TNB has been able to seize bitcoin mining machines at the premises involved following joint operations by the ministry, the police, the communications regulator, the anti-graft agency and other enforcement bodies.
also TIL Malaysia has an anti-graft agency.