Thailand crypto heist uncovers rising digital crime wave

A recent crypto heist in Pathum Thani, Thailand, has underscored the escalating threat of digital asset-related crimes in the country. 

Four Chinese suspects are at the center of this dramatic incident, which occurred early on August 16, 2024, targeting 35-year-old Chinese businessman Ke Jibao. 

Armed and masked, the intruders forcibly entered Ke’s luxury residence, subduing him, his wife, and a maid. 

They then coerced Ke into contacting a relative in China to transfer $2 million in cryptocurrency to their account.

To cover their tracks, the suspects took the home’s security camera servers before fleeing in Ke’s black Toyota Alphard, which was later found abandoned near a power plant. 

The suspects remain at large. 

The robbery resulted in injuries, with Ke suffering a knife wound to his wrist and a male servant, Chen Mingfa, sustaining a facial injury from being struck with a gun. 

The motive behind the robbery is still unclear, and authorities are continuing their investigation to apprehend the suspects.

This heist is part of a broader trend of rising cryptocurrency-related crimes in Thailand. 

In a recent crackdown dubbed “The Purge,” Thai authorities seized over 250 million baht ($6.79 million) in fraudulent cryptocurrency schemes, uncovering a network of scammers who tricked victims into investing in fake cryptocurrency platforms, leading to significant financial losses.

Additionally, Thai cyber authorities have arrested three Chinese nationals connected to these activities, confiscating assets valued at over 1.9 billion baht ($51.6 million), including luxury condos, cars, and other high-value items. 

In collaboration with the Anti-Money Laundering Office and Binance, the Royal Thai Police are intensifying efforts to combat cryptocurrency fraud and money laundering, reflecting growing concern over the rise in digital crimes in the country.