Woofun AI reports that Thai authorities have issued an arrest warrant for Chinese businessman Wang Yicheng, alleging collusion with transnational syndicates to launder billions of dollars through illicit cryptocurrency mining. The charges involve supporting cross-border internet fraud and online gambling operations.

TRM Labs data indicates Wang’s wallet received at least $9.1 million between 2021 and 2022, linked to "pig butchering" schemes. Thailand’s Special Investigation Department confirmed US law enforcement validated his role in digital asset fraud, having traced stolen funds from a Massachusetts victim to his account and seized approximately $500,000 in cryptocurrency.