Thailand’s Crypto Clampdown Leads to Multi-Million Dollar Seizure

In a bold move against illegal crypto activities, Thai authorities have confiscated over 650 crypto mining devices valued at over $5 million. This significant operation targeted two locations harboring hidden mining rigs, including one shockingly set up within a temple. The raids, orchestrated by the Cyber Crime Investigations Bureau and the Provincial Electricity Authority, were informed by substantial power consumption discrepancies, hinting at the illicit operations, according to Dailycoin.

The bust not only uncovered devices but also involved the arrest of three individuals responsible for managing these operations. The accused admitted to importing the devices from China and offering them for sale or lease in Thailand, including hosting services that covered electricity charges for a monthly fee.