Thailand issues warrant for Chinese businessman involved in crypto mining money laundering.

Deep Tide TechFlow News, June 25 – According to the New Straits Times, Thailand has issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of involvement in a transnational network that laundered proceeds from scams and online gambling through illegal cryptocurrency mining. Thailand’s Department of Special Investigation stated that Wang Yicheng was charged in November 2025 with theft and violations of the Computer Crimes Act, and is believed to have fled the country. Thai authorities are cooperating with international law enforcement agencies to track him down.

According to reports, the case stems from an investigation into illegal cryptocurrency mining activities, which allegedly involved the unlawful use of electricity worth approximately US$28 million. A previous Reuters investigation found that accounts under Wang Yicheng’s name had received millions of dollars linked to “pig butchering” crypto investment scams, and U.S. law enforcement had frozen about US$500k in cryptocurrency assets under his name in 2023. Thailand and several Southeast Asian countries have recently been intensifying efforts to crack down on cross-border telecom fraud syndicates.