In a significant crackdown on money laundering, Thai cryptocurrency platform operators have frozen over 10,000 accounts believed to be involved in illicit activities. This action comes as part of intensified measures aimed at addressing the issue of mule accounts within the digital asset landscape.
Following the implementation of stricter screening protocols, operators identified these accounts while requiring enhanced Know Your Customer checks for high-risk transactions. Att Thongyai Asavanund, CEO of KuCoin Thailand and chairman of the Thai Digital Asset Operators Trade Association (TDO), confirmed the figures, noting that these steps align with ongoing efforts from the TDO and the Thai Securities and Exchange Commission to combat financial crimes.
Earlier this year, a collaborative initiative among the SEC, TDO, and various law enforcement bodies led to the freezing of 47,692 mule accounts in 2025. The agencies are also enhancing data-sharing practices to improve identification and oversight of suspicious accounts, aiming to further diminish the risks associated with digital asset transactions.