Thai authorities seize bitcoin mining equipment worth $8.6 million from a transnational fraud syndicate

According to ChainCatcher, citing a report from Decrypt, Thai authorities have seized bitcoin mining equipment worth $8.6 million from seven locations suspected of funding transnational scam groups operating in Myanmar.

On Tuesday, the Department of Special Investigation of Thailand conducted raids at six locations in Samut Sakhon Province and one location in Uthai Thani Province, confiscating 3,642 mining devices valued at $7.7 million, as well as electrical equipment worth $860,000. Thai investigators found that most of the mining equipment was installed in soundproof containers equipped with water-cooling systems. These sites are linked to a scam group based in Myanmar, whose financial transactions have totaled over $143 million.