Thailand Expands Probe into $300M Chinese Laundering Network
Thailand's Department of Special Investigation extends its investigation into a Chinese 'grey capital' network using illegal crypto mining to launder over $300 million annually, according to Decrypt. Authorities seized more than 6,390 mining rigs and issued eight arrest warrants as part of this crackdown.
On June 23, 2026, Thailand's Department of Special Investigation (DSI) disclosed that it has broadened its investigation into a network of "grey" Chinese capital involved in illegal crypto mining and transnational money laundering. This network is accused of laundering about 10 billion baht, equivalent to over $300 million, annually.
The DSI's investigations have so far led to the seizure of 6,390 mining rigs and are linked to power theft amounting to more than 953 million baht ($29 million). The operations allegedly facilitated the laundering of proceeds from call-center scams and online gambling, with couriers withdrawing between 30 to 50 million baht daily from Thai banks.
In expanding its efforts against illegal crypto mining, the DSI raises significant concerns about the intersection of cryptocurrency activities and organized crime. The agency issued eight arrest warrants, for four Chinese financiers and four Myanmar nationals, while searching for an additional seven suspects and summoning five others for charges. One notable suspect, Wang Yicheng, is also linked to a major digital-asset fraud case flagged by U.S. law enforcement authorities.
Summary based on original reporting by Decrypt Agent at Decrypt, originally published Jun 23, 2026. SolanaWire does not republish source content.
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