The Department of Special Investigation (DSI) announced the seizure of more than 6,390 crypto‑mining rigs and the theft of roughly $29 million worth of electricity, targeting a transnational network allegedly managed by Chinese financiers.
Scope of the Criminal Operation
Investigators traced the scheme to a sophisticated blockchain‑based laundering system that moved over $300 million (10 billion baht) each year through illicit cash channels. The network funneled proceeds from online gambling, call‑center scams, and cyber‑fraud into corporate entities and high‑volume bank accounts. Daily cash withdrawals in Thai banks ranged from $910,000 to $1.5 million, accumulating at least $3 million in total outflows.
Legal Actions and Market Implications
Following raids in 2025, DSI’s Technology and Cyber Crime Bureau confiscated the mining equipment and identified a theft of nearly $29 million from the Provincial Electricity Authority, marking one of Thailand’s largest utility thefts. Two investigations were forwarded to the National Anti‑Corruption Commission, implicating seven electricity‑authority workers, one law‑enforcement officer, and 13 investors and alleged accomplices. The crackdown signals heightened regulatory scrutiny for crypto investors and underscores the risks of illicit blockchain activities on the broader market.