Thai Police Pursue Chinese Crypto Mining Fugitive Over $9 Million Scam

Thai authorities have issued an arrest warrant for Wang Yicheng, a Chinese businessman accused of being part of a network that laundered money from scams and online gambling through illegal cryptocurrency mining.

The warrant was issued in November, and police are now working with international counterparts to locate Wang, who is believed to have fled the country.

According to Reuters, an investigation into transnational crypto-investment fraud revealed that a wallet in Wang's name received at least $9.1 million between 2021 and 2022 from an account linked to 'pig-butcher' scams, which involve victims being deceived into fraudulent crypto investments.

The Thai Department of Special Investigation (DSI) stated that it had issued arrest warrants for four unnamed Chinese and four Myanmar nationals in connection with the case.