China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of…
Tether and Mahidol University International College (MUIC), a prestigious institution in Thailand known for its diverse and international academic programs, have signed a Memorandum of Understanding (MOU) to integrate stablecoin, blockchain, and peer-to-peer (P2P) technology into MUIC’s curriculum. This collaboration will feature workshops, guest lectures, and research projects aimed at enhancing finance education and fostering…
Thailand has extradited Malaysian businessman Tedy Teow, also known as Zhang Yufa, to China over a massive cryptocurrency scam amounting to more than 100 billion yuan (US$14 billion). This marks the first extradition under the Thailand-China treaty since 1999. Teow, the founder of MBI Group, is accused of running a pyramid scheme that defrauded over…
Thailand’s law authorities recently raided a house occupied by a company running Bitcoin mining operations. According to the South China Morning Post’s coverage, the illegally operated Bitcoin mining activities triggered frequent power outages in the vicinity for over a month. Illegal Bitcoin Mining Operations Bitcoin, the leading cryptocurrency, uses a proof-of-work (PoW) consensus mechanism. This…
A suspect named Zhang has been extradited from Thailand to China for allegedly leading a $14 billion (100 billion yuan) crypto pyramid scheme. He is the first financial criminal to be extradited under the China-Thailand treaty since its inception in 1999. The Ministry of Public Security in China announced that Chinese and Thai officials have…
The Thai police conducted a raid on an illicit Bitcoin (BTC) mining facility in Ratchaburi, a town located to the west of Bangkok, in response to complaints from residents about recurring power outages that had been occurring for more than a month. The raid was done due to the inhabitants’ nonpayment of a significant portion…
Chinese succeeded in deporting the mastermind running MBI Group from Thailand, looting residents of China. MBI Group was the firm involved in the cryptocurrency pyramid scheme with over 10 Million and $+13 Billion- data. As per available information, a Chinese resident was kidnapped by the Malaysian group on July 11, 2024. Despite restrictions on crypto-related…
August 23, 2024 at 12:51 PM GST 2 mins read News Zhang, associated with the MBI Group, led a pyramid scheme affecting over 10 million members globally. Legal actions against Zhang started in November 2020, culminating in his extradition in August 2022. The extradition showcases effective China-Thailand legal collaboration, enhancing global economic security efforts. Recently,…
Malaysian officials have arrested seven people for suspected bitcoin mining operations that involved stealing electricity. The local media, Bernama, reported that the detainees include three Malaysians and four foreigners, who were held separately last week. Electricity Theft in Malaysia In an official statement, the Sepang District Police Chief, ACP Wan Kamarul Azran Wan Yusof, mentioned…
Police are actively searching for four Chinese nationals believed to have broken into a luxury home in Pathum Thani, one of the central provinces of Thailand, and forced the resident to transfer $2 million (70 million baht) in crypto assets. The break-in took place around 2 AM on Wednesday in Tambon Ban Mai in the…