Thailand Expands Crypto Laundering Investigation Into $300M Network, Seizes 6,390 Mining Rigs

According to Decrypt, Thailand's Special Branch (DSI) recently expanded its investigation into an illegal cryptocurrency mining network used to launder proceeds from phone scams and online gambling. The network has facilitated approximately 300 billion baht (about $300 million) in annual illicit transactions. Authorities have seized 6,390 mining machines and identified illegal electricity theft losses totaling 953 million baht (about $29 million). DSI has issued arrest warrants for four Chinese nationals and four Myanmar nationals involved in the operation. The U.S. Secret Service also froze over $17.8 million in cryptocurrency assets linked to key suspect Wang Yicheng, who is alleged to be connected to "pig butchering" fraud schemes.
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