Thailand Cracks Down on $300M Crypto Mining Money Laundering Scheme

Thai authorities have seized 6,390 cryptocurrency mining rigs and issued arrest warrants for eight individuals linked to a sprawling money laundering operation. The network allegedly laundered over 10 billion baht ($300 million) annually through illegal mining activities.

The crackdown began during a routine electricity theft investigation in 2025, which uncovered a sophisticated financial network with ties to Chinese financiers. Four Chinese nationals and four Myanmar operatives are among those wanted for allegedly managing ground-level cash operations.

Investigators estimate the mining operations stole 953 million baht ($29 million) in electricity from Thailand's Provincial Electricity Authority. The Department of Special Investigation is pursuing seven additional warrants and has summoned five more suspects for questioning.