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Thai Crypto Platforms Freeze 10,000+ Accounts in Money Laundering Crackdown
Thai Crypto Platforms Freeze 10,000+ Accounts in Money Laundering Crackdown
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BTCCSquare news:
Thai digital asset operators have frozen over 10,000 accounts linked to money laundering and fraudulent activities, marking the country's latest escalation against crypto-enabled financial crimes. The coordinated freeze—executed under the "Speed Bump" initiative by the Thai Digital Asset Operators Trade Association (TDO)—targets so-called mule accounts often used to obscure illicit fund flows.
KuCoin Thailand CEO Att Thongyai Asavanund, who chairs the TDO, emphasized the opacity of blockchain-based transactions: "We may see wallet addresses and movement, but we often don't know who controls them." The crackdown follows February 2025 collaborations between Thailand’s SEC, central bank, and cybercrime units to implement stricter safeguards.
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