Chinese man arrested for illegal digital currency service

A Chinese man and a Thai nominee are arrested for operating an illegal digital money exchange in Bangkok where two of his colleagues were kidnapped by Chinese gang members last month. The man, 27, has been charged of running an illegal digital money service in Bangkok’s Huai Khwang district while the female nominee was charged of fraud.

Thai Immigration Police Bureau officers said that, in October, police arrested a gang member, who used firearms to kidnap two Chinese businessmen from this exchange office. The gang demanded ransom totaling about 12 million baht before attempting to flee the country. The suspects are now charged of violating a digital asset act with maximum punishment of five years in prison.