Masked intruders make off with $2 million in Crypto: Thai police launch investigation

Police are actively looking for four Chinese nationals who are believed to have broken into a luxury home in Pathum Thani, one of Thailand’s central provinces, and forced the resident to hand over $2 million (70 million baht) in assets. cryptographic

The break-in took place at around 2am on Wednesday in Tambon Ban Mai, Muang district.

Crypto theft

According to police reports, six neighbors, including three men and three women, occupied the house at the time of the incident. Ke Jibao, a 35-year-old Chinese businessman, reported that he and his wife were asleep when the four masked suspects, armed with guns and knives, entered the property.

The intruders reportedly restrained Ke, his wife and a maid by tying their hands and feet. They then forced him to contact a relative in China to transfer $2 million in crypto assets to his account. After confirming the transfer, the assailants stole the security camera servers and escaped in the victim’s black Toyota Alphard.

Following the incident, Ke suffered a minor knife wound to his right wrist. The male assistant, Chen Mingfa, 26, suffered a facial injury after being hit in the forehead with a gun. The stolen vehicle was later found abandoned near a power plant on Liap Khlong Prapa Road at 1.30pm on Wednesday and was taken to Police Forensic Science Center 1 for examination.

The victim told investigators that she did not know the motive for the robbery or how the perpetrators knew her relative. Police believe the robbery was carefully planned as the suspects entered the development on foot, avoiding security checks that required identification.

Pol Col Narong Iamrahong, commander of the Pak Khlong Rangsit station, said investigators are reviewing footage from other security cameras in the area to locate the suspects. Authorities also plan to further question the victims and neighbors.

Crypto Adoption in Thailand

The increased adoption of cryptocurrencies in Thailand has led to an increase in scams. Currently, the country and its regulators are seeking a balance between fostering the crypto ecosystem and curbing fraud.

Interestingly, Thailand’s Securities and Exchange Commission (SEC) allowed institutional investors and high-net-worth individuals to invest in cryptoETFs in March this year.

Meanwhile, crypto custody providers must use digital wallet management systems under SEC regulations to ensure the safety of client assets.

Thailand is currently ranked 10th in the Chainalysis Global Crypto Adoption Index 2023, with many crypto exchanges licensed.

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