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Thailand expands cryptocurrency money laundering investigation, involving over $300 million

DeepFlowTech
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Deep Tide TechFlow News, June 23, according to Decrypt, the Thai Department of Special Investigation (DSI) has expanded its investigation into a "gray Chinese capital" network. The network is suspected of using illegal cryptocurrency mining to launder money from phone scams and online gambling, with annual cases exceeding 30 billion Thai Baht (about 300 million USD). Currently, authorities have seized 6,390 mining machines, with illegal electricity theft losses reaching 953 million Thai Baht (about 29 million USD), and arrest warrants have been issued for 4 Chinese financiers and 4 Myanmar nationals. The U.S. Secret Service has seized over 17.8 million USD in crypto assets related to key suspect Wang Yicheng, who is linked to "pig-butchering" scam operations. Additionally, the investigation involves multiple Thai power officials and law enforcement personnel, and the case has been handed over to the National Anti-Corruption Commission.
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