A businessman from China has been placed on a wanted list in Thailand for illegal mining and electricity theft amounting to $28 million.
Thai law enforcement authorities have issued an arrest warrant for Chinese entrepreneur Wang Yicheng. He is suspected of organizing a large-scale illegal mining network that caused serious damage to the state.
According to the investigation, the scheme operated over a long period and used stolen electricity worth approximately 28 million US dollars. Additionally, it was established that this infrastructure was used to launder proceeds from online gambling and scam projects.
Charges and Status of the Suspect
In November of this year, Wang Yicheng was officially charged with theft and violation of the Computer Crimes Act. Investigators believe the businessman has already left Thailand, significantly complicating the process of his arrest.
This case once again draws attention to the issue of illegal mining in Southeast Asia. Such schemes not only undermine the energy security of countries but also create reputational risks for the entire crypto industry. In my practice, such cases often turn out to be just the tip of the iceberg — behind them lie complex financial chains that require international cooperation for full disclosure.