Svmuu News: The Thai government has officially issued an arrest warrant for Chinese businessman Wang Yicheng, accusing him of colluding with transnational criminal organizations to launder billions of dollars for transnational internet fraud and online gambling rings through illegal cryptocurrency “mining.” Reuters cited an investigation by blockchain analytics firm TRM Labs, which found that Wang Yicheng’s cryptocurrency wallet received at least $9.1 million (approximately 71.35 million Hong Kong dollars) between 2021 and 2022, all of which was linked to “pig butchering” scams.
Thailand’s Special Investigation Bureau issued a statement saying that U.S. law enforcement agencies have identified Wang Yicheng as a suspect 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 under Wang Yicheng’s name and seized approximately $500,000 worth of cryptocurrency. (Lianhe Zaobao)