Thai businessmen sue Tether for freezing $42M in $61M pig butchering case
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Thailand issues arrest warrant for Chinese businessman suspected of involvement in "pig butchering" scams and illegal cryptocurrency mining for money laundering, totaling billions of dollars.
Odaily Odaily that the Thai government has issued a formal arrest warrant for Chinese businessman Wang Yicheng, accusing him of colluding with a transnational criminal group to launder billions of dollars for transnational internet fraud and online gambling syndicates through illegal cryptocurrency mining. Reuters, citing an investigation by blockchain analytics firm TRM Labs, indicates that Wang's cryptocurrency wallet received at least $9.1 million (approximately HK$71.35 million) between 2021 and 2022, all of which were linked to "pig butchering" scams. Thailand's Special Investigation Bureau issued a statement saying that U.S. law enforcement has confirmed Wang Yicheng's involvement in a digital asset fraud case. U.S. authorities had previously traced the flow of funds stolen from a victim in Massachusetts to an account registered in Wang Yicheng's name and seized approximately $500,000 in cryptocurrency. (Lianhe Zaobao)
Tether sued over frozen ‘pig butcher’ coins, 6,600 students get crypto loans: Asia Express
Thai businessmen sue Tether over $42M frozen USDT tied to pig butchering scam, Aussie crypto firms face big fines unless they meet licensing deadline.
Tether Sued Over Alleged Unlawful Freeze of $42.4 Million in USDT
Two Thai businessmen claim Tether blocked access to their stablecoins months before federal authorities secured a seizure warrant.
Thailand issues arrest warrant for Chinese businessman suspected of involvement in transnational cryptocurrency investment fraud.
According to Foresight News , citing the New Straits Times, Thailand has issued an arrest warrant for Wang Yicheng, a Chinese businessman suspected of involvement in a transnational cryptocurrency investment fraud case. Thai authorities accuse him of participating in a criminal network that laundered money through illegal cryptocurrency mining, and that the network used fraud and online gambling activities to launder money. A spokesperson for Thailand's Special Investigation Department told Reuters, "The suspect is believed to have fled Thailand." He added, "Thai authorities are cooperating with their international counterparts to apprehend him." The report states that Wang, a former leader of the Thai-Chinese Trade Association, is a key figure in a Chinese investor group suspected of laundering money through illegal cryptocurrency mining, with funds originating from fraud and online gambling.
Thailand expands investigation into cryptocurrency money laundering, involving over $300 million.
According to Decrypt, Thailand's Special Investigations Bureau (DSI) has expanded its investigation into a network of "gray Chinese capital" suspected of using illegal cryptocurrency mining to launder money from phone scams and online gambling, with annual amounts exceeding 30 billion baht (approximately US$300 million). Authorities have seized 6,390 mining rigs, recovered 953 million baht (approximately US$29 million) in illegally stolen electricity, and issued arrest warrants for four Chinese financiers and four Burmese nationals. The US Secret Service has seized over US$17.8 million in cryptocurrency assets linked to key suspect Wang Yicheng, who is allegedly involved in "pig butchering" scams. The investigation also involves several Thai electricity authority officials and law enforcement personnel, and the case has been transferred to the National Anti-Corruption Commission.
White House economic advisor Hassett responds to Intel shareholding issue: It's an extreme case.
Odaily Odaily reports that White House economic advisor Hassett, when discussing shareholding issues, stated that Intel's situation is unique and an extreme case, and that the US is exploring profit-sharing with all artificial intelligence companies. (Jinshi)