Thailand's Department of Special Investigation (DSI) issued an arrest warrant on June 25 for Chinese businessman Wang Yicheng in connection with illegal cryptocurrency mining used to launder money from scams and online gambling operations [1, 2, 3, 4]. Wang, a former leader of a Thai-Chinese trade association, is considered a key figure in a Chinese investor group running illegal crypto mining farms [1, 4].

Wang was charged in November 2025 with theft and violations under Thailand's Computer Crimes Act for interfering with computer systems, police said [1, 2, 3, 4]. Authorities believe Wang has fled Thailand. Police Major Woranan Srilam of the DSI said, "The suspect is believed to have fled the country," and confirmed that Thai officials are cooperating with international partners to locate him [1].

The investigation uncovered a large-scale scheme where illegal crypto mining farms used about $28 million in electricity in Thailand, causing losses exceeding 9.53 billion Thai baht to local power authorities [1, 4]. Officials noted secret mining farms relied on illegally tapped electricity, with Myanmar nationals withdrawing 30 to 50 million baht in cash daily [4].

Eight other suspects have arrest warrants, including four Chinese nationals and four from Myanmar, linked to the organized crime network [1, 2, 3, 4]. The DSI described the group as "transnational organised crime groups" that use crypto mining to generate income and launder money [1].

Wang’s crypto wallets received millions of dollars tied to scam operations such as "pig-butchering" romance schemes from 2021 to 2022, with estimated scam-related funds around $9.1 million [1, 4]. U.S. authorities identified Wang as a suspect in a digital asset fraud case and seized about $500,000 in cryptocurrency from an account in his name in June 2023 [1, 4].

China’s Foreign Ministry said it was not aware of the situation concerning Wang Yicheng [1, 2, 3].

The Thai DSI publicly confirmed charges against Wang and his purported flight from Thailand on June 23 [1, 2, 3]. Authorities continue to coordinate internationally to track Wang and dismantle the wider network.

The arrest warrants for Wang and seven others mark the latest step in Thailand’s crackdown on crypto-related crime, with investigations ongoing.