Thailand’s Department of Special Investigation has expanded its probe into an illegal crypto mining network accused of funneling over 10 billion baht, roughly $300 million, per year through laundering channels tied to online scams and gambling operations.
At the center of the investigation sits Wang Yicheng, a Chinese businessman who has become the primary fugitive in a case that stretches from Southeast Asian mining farms to a major US digital asset fraud investigation.
The network and the warrants
The DSI issued arrest warrants for eight individuals on June 22: four Chinese nationals, including Wang, and four Myanmar nationals. Authorities are actively hunting seven additional suspects connected to the operation.
According to the investigation, the network employs cash mules and steals electricity to power mining rigs, using the resulting crypto as a vehicle to launder proceeds from online scams and gambling operations.
