Thai authorities have issued an arrest warrant for Chinese businessman Wang Yicheng over his alleged role in a network tied to illegal crypto mining operations that authorities say illicitly used about $28 million worth of electricity, according to Reuters.
Police Major Woranan Srilam, a spokesperson for the Department of Special Investigation (DSI), said Tuesday that Wang was charged in November with theft and violations under the Computer Crimes Act, which covers interference with computer systems, Reuters reported.
The DSI also said in a statement last week that it had issued arrest warrants for four Chinese nationals and four Myanmar nationals, per the report.
The agency described Wang, a former leader of a Thai-Chinese trade association, as a key figure in a group of Chinese investors allegedly using illegal crypto mining operations to launder proceeds from scams and online gambling.
U.S. law enforcement has also identified Wang as a suspect in a digital asset fraud case, per the DSI statement. In June 2023, U.S. authorities seized about $500,000 in crypto from an account registered in Wang's name, saying the funds were traced to a Massachusetts fraud victim.
