Traditional botnet attacks leverage large and distributed numbers of compromised internet-connected devices to target and overwhelm other devices with internet packets. But with increasing consumer adoption of high-wattage internet-facing "smart devices", a new "power botnet" attack emerges, where such devices are used to target and overwhelm power grid devices with unusual load demand. We introduce a specific variant of this attack, the power-botnet weardown-attack, which does not intend to cause blackouts or short-term acute instability, but instead forces expensive mechanical components to activate more frequently, necessitating costly replacements or repairs. Specifically, we target the on-load tap-changer (OLTC) transformer, which involves a mechanical switch that responds to change in load demand. In our analysis and simulations, such power botnets can halve the lifespan of an OLTC, or in the most extreme cases, reduce it to 2.5% of its original lifespan. Notably, these power botnets are composed of devices that are not connected to the internal SCADA systems used to control power grids. This represents a new internet-based cyberattack that targets the power grid in a way that cannot be solved by hardening existing SCADA systems. To help the power system to mitigate these types of botnet attacks, we develop attack-localization strategies. To the best of our knowledge, there is no valid model-based approach for attack localization. So we formulate the problem as a supervised machine learning task to locate the source of power botnet attacks. Within a simulated environment, we generate the training and testing dataset to evaluate several machine learning algorithm based localization methods, including SVM, neural network and decision tree. We show that decision-tree based classification successfully identifies power botnet attacks and locates compromised devices with at least 94% improvement of accuracy over a baseline "most-frequent" classifier. CCS Concepts: • Security and privacy → Hardware attacks and countermeasures; • Computing methodologies → Machine learning; Machine learning algorithms; Classification and regression trees; Supervised learning; • Hardware → Smart grid; Power networks; Switching devices power issues.