Thailand expands crypto money laundering investigation, with the amount involved exceeding $300 million.
TechFlame
2026-06-23 13:43
TechFlame2026-06-23 13:43
English
TechFlame News: According to Decrypt, Thailand's Special Investigation Department (DSI) has expanded its probe into a "gray Chinese capital" network. The network is suspected of using illegal cryptocurrency mining to launder profits from phone scams and online gambling, with an annual turnover exceeding 30 billion Thai baht (approximately $300 million). Authorities have seized 6,390 mining machines, with losses from illegal electricity theft amounting to 953 million Thai baht (around $29 million). Arrest warrants have been issued for four Chinese financiers and four Myanmar nationals.
The U.S. Secret Service has seized over $17.8 million in crypto assets linked to key suspect Wang Yicheng, who is allegedly involved in "pig butchering" scam operations. Additionally, the investigation involves multiple Thai electricity authority officials and law enforcement personnel, and the case has been referred to the National Anti-Corruption Commission for further action.