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Victims of an alleged scam related to the extraction of cryptocurrencies filed complaints against the alleged perpetrator at the Division of Suppression of Technological Crime in Thailand, Bangkok Post reported on February 18.
According to the report, 30 people have lodged a complaint with the police, claiming to have been duped by an alleged scam called "CryptoMining.Farm". This would have resulted in the loss of 42 million baht ($ 1.34 million). Local authorities suspect that 140 people have been affected by the scam.
CryptoMining.Farm, which has offices in Bangkok and Chiang Mai, would have promised investors an annual return of 70%, in addition to the ability to withdraw their funds at any time, without conditions. The Bitcoin mining contracts (BTC) proposed by the company ranged from three months to a lifetime.
An affected person told the Bangkok Post, "But from August, the owner started to impose conditions for the withdrawal of money. Then, earlier this month, the site announced that it would start paying back investors in 84 installments – which would take more than seven years. "The source, who would have preferred to remain anonymous, said the payments would also be made in foreign currency, which is illegal under Thai law.
The most recent allegations follow a well-known case of last year, in which a former soap opera actor, Jiratpisit "Boom" Jaravijit, and other suspects have been accused of having swindled for $ 24 million Bitcoin to the Finnish investor Aamai Otava Saarimaa, 21 years old.
The suspects, accused of plotting fraud and money laundering, allegedly pleaded "not guilty" in a court in Bangkok in November 2018.
In May, a royal decree of 100 sections published in the Royal Thai Gazette defined cryptocurrencies as "digital badets and digital tokens". In November, Deputy Prime Minister Wissanu Krea-ngam called for more regulations on cryptocurrencies. Krea-ngam said new guidelines should be introduced to monitor the evolution of tactics and threats to consumer safety.
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