Thailand has issued a wanted notice for a Chinese businessman for illegal mining and electricity theft.
Thai law enforcement authorities have issued an arrest warrant for Chinese citizen Wang Yicheng, suspected of organizing a large-scale illegal cryptocurrency mining network. The Department of Special Investigation (DSI) determined that his activities involved the theft of electricity worth approximately $28 million and subsequent money laundering of proceeds obtained from fraudulent schemes and online gambling.
According to the investigation, the underground mining farm operated bypassing official resource consumption records, causing significant damage to the national power grid. In November of this year, Wang Yicheng was officially charged with theft of energy resources and violation of the Computer Crimes Act. However, according to available information, the suspect has already left Thailand, significantly complicating his arrest.
This incident highlights the growing vulnerability of Southeast Asian countries' energy infrastructure in the face of illegal mining. The region, which attracts cryptocurrency miners with cheap electricity, is increasingly encountering organized criminal groups that do not hesitate to directly steal resources.
Expert comment: Cases like this are a warning signal for the entire industry. They discredit legal mining and provoke stricter regulations, which will primarily hit honest market participants. The case in Thailand once again proves that without transparent control over energy consumption and a clear legal status for cryptocurrency mining, this gray area will only expand.