<p>In response to the increasingly concealed and sophisticated methods of electricity theft, which are difficult to comprehensively cover and detect in a timely manner, a method for identifying high-risk electricity theft behaviors in low-voltage distribution station areas based on density-based clustering of IoT sensing data is investigated. An intelligent IoT power distribution terminal is deployed at the distribution transformer side within the station area to collect IoT sensor data reflecting electricity consumption behavior. The density-based clustering algorithm is employed to achieve comprehensive clustering of the IoT sensing data by determining the initial cluster centers and iteratively searching and updating these centers. The clustering results of the IoT sensing data are used as input to an LM-BP neural network, which classifies the electricity consumption behavior data in the station area into normal and abnormal categories. Based on optimal matching values, a feature matching approach is applied to determine whether abnormal electricity consumption samples correspond to high-risk theft behaviors, thereby enabling the detection of such behaviors in low-voltage distribution station areas. Experimental results demonstrate that the proposed method can accurately identify high-risk electricity theft behaviors, such as meter bypassing, by leveraging the density-based clustering results of IoT sensing data.</p>