Place the chocolate in a small heatproof bowl.
Pour the boiling water over the chocolate, making sure all the pieces are submerged.
Set aside for about 3 minutes.
While waiting for the chocolate to melt, combine the cream and milk in a saucepan and bring to a simmer over medium low heat.
Stir in the malted milk powder.
Whisk the chocolate and water mixture until smooth, then pour immediately into the milk and cream mixture.
Whisking constantly, bring the mixture just to a boil.
Divide the hot chocolate among 2 mugs and top with whipped cream.
Sprinkle crushed malted milk balls over the whipped cream and serve immediately.