Thailand Seeks Chinese Businessman Over Alleged Crypto-Mining Laundering Network

Thailand has issued an arrest warrant for Chinese businessman Wang Yicheng over an alleged transnational network that used illegal cryptocurrency mining to launder proceeds from online scams and gambling.

The Department of Special Investigation said its inquiry grew from electricity-theft cases at mining sites into a wider investigation of criminal finance. Authorities allege that the network circulated more than 10 billion baht a year and involved Chinese financiers and Myanmar operators.

Wang had previously appeared in reporting on cross-border crypto-investment fraud. He has not been convicted, and the allegations remain subject to investigation and court proceedings.

Sources: Thailand Department of Special Investigation; Reuters.