Thailand Says Illegal Crypto Mining Linked to Chinese Criminal Network
Thailand Says Illegal Crypto Mining Linked to Chinese Criminal Network
BANGKOK, June 22, 2026 – Thailand’s Department of Special Investigation (DSI) has expanded an investigation into illegal cryptocurrency mining operations after uncovering alleged links to Chinese investment networks, transnational money laundering and financial transactions exceeding 10 billion baht annually.
The probe follows operations conducted in 2025 by the DSI’s Technology and Cyber Crime Bureau, which dismantled three major networks accused of stealing electricity to power cryptocurrency mining farms. Authorities seized more than 6,390 mining machines and estimated losses to the Provincial Electricity Authority (PEA) at more than 953 million baht, describing the case as one of the country’s largest instances of illegal electricity use.
Investigators said evidence also pointed to alleged involvement by public officials in facilitating the operations. The DSI has submitted two case files to the National Anti-Corruption Commission (NACC), implicating seven electricity authority officials, one law enforcement officer and 13 investors or alleged accomplices.
As the investigation widened, authorities began examining Chinese investment groups suspected of managing a large financial network in Thailand. Investigators said they found evidence allegedly linking the network to money laundering involving technology-related crimes, including call centre scams and transnational online gambling operations.
Analysis of financial records revealed unusually large transactions through bank accounts and corporate entities connected to the network. Investigators alleged that Myanmar nationals were used to withdraw between 30 million and 50 million baht in cash each day from Thai financial institutions, with the network’s annual financial turnover estimated at no less than 10 billion baht.
The DSI also said it received information from United States law enforcement identifying Chinese national Wang Yicheng as a suspect in a major digital asset fraud case. According to investigators, the US Secret Service seized digital assets worth more than US$17.8 million linked to Wang in connection with alleged losses exceeding 2 billion baht.
Authorities have issued arrest warrants for eight suspects, including four Chinese financiers and four Myanmar nationals alleged to have managed operational teams. Investigators are also seeking court approval for seven additional arrest warrants and have summoned five other individuals to acknowledge charges.
The Nation reported that the DSI plans to accelerate evidence gathering before forwarding the completed case to special prosecutors. Investigators said illegal electricity use for cryptocurrency mining extends beyond power theft and has become a mechanism for transnational criminal organisations to generate illicit income, launder money and finance technology-related criminal activities.
