Thailand's DSI Seizes Over 185 Million Baht in Property Held Under Myanmar Nationals' Names and Shares

Thai DSI seizes over 185 million baht in real estate held under Myanmar nationals' names and through shareholdings

October 23

Thailand's Department of Special Investigation (DSI) has identified and seized real estate and condominium units worth more than 185 million baht held under nominee names and through shareholdings by Myanmar nationals in connection with illegal Bitcoin mining in Thailand.

The seized assets include a three-storey building worth over 106 million baht in Bang Lamung, Chonburi province, and the company owning the building is said to be 49 percent held by two Myanmar nationals and 51 percent by two Thai nationals.

In addition, 15 condominium units worth about 79 million baht in Huai Khwang, Bangkok, were reportedly purchased and registered under the names of five Myanmar nationals.

Thai authorities said in a press release that the properties are linked to networks illegally mining Bitcoin using stolen electricity, and that they were raided and seized on October 22 in an operation codenamed "Operation Black Trace."

The DSI is also continuing to investigate the source of the money used to acquire the assets, the connections between the nominee owners and the perpetrators, and the real beneficiaries behind the scheme, according to the statement.

The case is also linked to the "Bitforge" operation, in which 1,788 Bitcoin mining machines were seized in Samut Sakhon province in January 2025, and "Operation Copperhead" in December 2025, in which machines and related equipment worth more than 300 million baht were seized.

The network is also linked to money laundering operations and cross-border scam gangs, with financial flows exceeding 5,000 million baht and more than 3,000 million baht in state revenue lost, Thai authorities said.

So far, 25 suspects have been identified, six have been charged, and arrest warrants have been issued for 19 people, including seven newly issued warrants.

The suspects include five Chinese nationals, six Thai nationals, 13 Myanmar nationals and one company, and they are being prosecuted under charges including theft, computer crime law violations and money laundering.

Ref & Photo: Chiangmai Post

MyoTaw News Channel