25/06/2026
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25/06/2026
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BANGKOK, Jun 25: Thai authorities have issued an arrest warrant for Chinese businessman Wang Yicheng, alleging he was part of a transnational network that laundered proceeds from online scams and illegal gambling through unauthorized cryptocurrency mining operations.
The warrant was issued by Thailand's Department of Special Investigation (DSI), which charged Wang in November with theft and violations of the country's Computer Crimes Act. Officials believe the suspect has fled Thailand and are working with international partners to locate him.
DSI spokesperson Police Major Woranan Srilam said investigators linked Wang to a network of Chinese investors accused of using illegal cryptocurrency mining activities to conceal proceeds generated by online fraud and gambling operations.
The case emerged from a major investigation into illicit crypto-mining operations that allegedly consumed about $28 million worth of electricity, making it one of Thailand's largest illegal mining cases in recent years. Authorities say organized crime groups increasingly use unauthorized cryptocurrency mining to generate revenue and launder illicit funds.
The DSI recently announced arrest warrants for eight suspects, including four Chinese and four Myanmar nationals. While the agency did not initially identify those targeted, it later described Wang as a key figure in the alleged network.
The investigation comes as Thailand and other Southeast Asian nations intensify crackdowns on largely Chinese-run scam syndicates operating across the region. According to the United Nations, such criminal networks generate billions of dollars annually and often rely on trafficked workers forced to participate in online fraud schemes.
U.S. authorities have also previously linked Wang to digital asset fraud investigations. In June 2023, American law enforcement seized approximately $500,000 in cryptocurrency from an account bearing his name after tracing funds allegedly stolen from a victim in Massachusetts.
A 2023 Reuters investigation reported that a cryptocurrency wallet registered in Wang's name received at least $9.1 million from accounts that blockchain analytics firms linked to so-called "pig-butchering" scams, in which victims are lured into fraudulent cryptocurrency investments. However, investigators were unable to determine whether Wang personally controlled the wallet or whether his identity had been used by others.
The report also linked some scam operations to KK Park, a notorious industrial compound on the Myanmar-Thailand border known for online fraud.
Wang, who formerly served as a leader of a Thai-Chinese trade association, has not responded to requests for comment. China's Foreign Ministry said it was unaware of the case.
The investigation remains ongoing as Thai authorities continue efforts to dismantle transnational cybercrime and money-laundering networks operating across Southeast Asia.
