Thai crypto operators reportedly froze 10,000 suspected “mule accounts” as new AML checks and transfer delays took effect in a wider anti-fraud push.
Thai cryptocurrency platform operators have reportedly frozen more than 10,000 accounts suspected of being used to launder illicit funds, as the country steps up efforts to crack down on so-called mule accounts.
The freezes followed the rollout of stricter screening measures aimed at slowing suspicious crypto transfers and requiring additional Know Your Customer checks before higher-risk transactions are completed, according to local reporting from the Bangkok Post on Tuesday.
The tighter process helped operators identify and freeze more than 10,000 suspected mule accounts, Att Thongyai Asavanund, chief executive of KuCoin Thailand and chairman of the Thai Digital Asset Operators Trade Association (TDO), told the Bangkok Post.
