DSI widens probe into grey Chinese capital network linked to illegal crypto mining

The Department of Special Investigation (DSI) has expanded its probe into a grey Chinese capital network allegedly linked to illegal crypto mining and transnational money laundering, with financial flows of more than 10 billion baht per year.

In 2025, the DSI’s Technology and Cyber Crime Bureau dismantled three major networks accused of illegally using electricity for digital currency mining.

Authorities seized more than 6,390 cryptocurrency mining machines and found total damage to the Provincial Electricity Authority (PEA) of more than 953 million baht.

The case is considered one of the highest-value illegal uses of state utilities in recent years.

Investigators also found evidence allegedly linking some state officials to acts of assistance or facilitation for the offenders.

As a result, the DSI has already forwarded two case files under the authority of the National Anti-Corruption Commission (NACC). These involve seven electricity authority officials, one law enforcement officer and 13 investors or alleged accomplices.

The expansion of the investigation from the illegal crypto-mining networks has also led authorities to examine Chinese investment groups believed to play a key role in managing a large financial network in Thailand.

DSI investigators found information and evidence allegedly connected to money laundering from technology-related crimes, including call centre scams and transnational online gambling networks.

An examination of money trails found unusually high levels of financial activity in bank accounts and corporate entities linked to the network.

The investigation found that Myanmar nationals were allegedly used to withdraw cash from Thai financial institutions at a rate of around 30 million to 50 million baht per day.

The network’s total financial transactions were estimated at no less than 10 billion baht per year, reflecting the complexity of the financial structure behind the alleged criminal organisation and its ability to move large volumes of assets.

At the same time, the DSI received information from US law enforcement agencies indicating that Wang Yicheng, one of the key figures in the network, was a suspect in a major digital asset fraud case.

The US Secret Service seized digital assets linked to Wang worth more than US$17.8 million, or around 620 million baht, in connection with total damage exceeding 2 billion baht.

The DSI has now issued arrest warrants for eight suspects in the network, comprising four Chinese financiers and four Myanmar team members.

Authorities are also seeking approval for seven additional arrest warrants and have summoned five other people to acknowledge charges.

The DSI said it would accelerate the collection of evidence in order to finalise the case file and submit it to special case prosecutors for legal action.

The department assessed that illegal electricity use for cryptocurrency mining is not merely theft or an attempt to avoid electricity bills.

It is also a key mechanism used by transnational criminal organisations to generate income, launder money and drive technology-related crime networks.

The DSI said such activities have wide-ranging impacts on Thailand’s economic security and financial system.