Thai Police Raid Bitcoin Mines Tied to $156M Chinese Scam Network

Thai police raided seven Bitcoin mining farms in Samut Sakhon and Uthai Thani, seizing over 3,600 machines valued at $8.4 million and equipment worth about $936,826.
The operations were linked to Chinese organized crime groups running scams from Myanmar. Electricity theft from these activities resulted in losses of around $93 million over three years.
Raids targeted four warehouses and three homes using soundproofed shipping containers with water-cooling systems for continuous mining operations.
The criminal network, known as "Chinese Grey," reportedly moved over $156 million through digital assets.
Similar illegal activities have been reported in Malaysia, with $1.1 billion in electricity losses due to Bitcoin mining since 2020.
Malaysia has used drones and ground teams for detection and raids, leading to arrests and equipment seizures.
In 2025, Thai regulators amended laws to block foreign crypto P2P services and target mule accounts, imposing fines and jail terms.
The Thai SEC banned five unlicensed exchanges: Bybit, OKX, CoinEx, 1000X, and XT.com.
Efforts are underway to cut off scam funding and protect users, with coordination against cross-border crypto crime intensifying.