Crypto raids in Cherng Talay linked to drug trafficking and scams

*Two cryptocurrency exchanges in Cherng Talay have been raided in a high-profile crackdown, with police alleging links to drug trafficking and scam operations.*

Published: 2026-03-14 17:53 UTC Event date: developing

Police raided two cryptocurrency exchanges in Cherng Talay in a sweeping crackdown on illegal digital asset operations, with authorities linking the businesses to drug trafficking and scam activities. The coordinated operation, carried out on April 18 by the Central Investigation Bureau (CIB) as part of Operation Crypto Phantom, targeted a total of eight locations across Phuket and other provinces.

The exchanges, identified as Ex24.pro and Cryptopida, were among several sites in Phuket searched under court-issued warrants. Additional raids were conducted at a commercial building in Village 10, Chalong, and in Patong at a business operating as Money Markets. Investigators noted the presence of Russian-language signage at multiple locations, suggesting an international element to the network.

According to the CIB, these exchanges were facilitating “hand-to-hand” cryptocurrency transactions, primarily involving the stablecoin USD Tether (USDT), outside of licensed platforms. By operating without proper oversight, the exchanges were able to evade financial regulations and taxes. Police allege that such unregulated services are often exploited by criminal groups to launder money and finance illegal enterprises, including drug trafficking and call centre scams.

A preliminary review of financial records and digital evidence seized during the raids uncovered more than 1,000 suspicious transactions, with a total value exceeding 425 million USDT, or about 14 billion baht. Authorities believe this activity is part of a larger underground network moving vast sums of money illicitly, both within Thailand and potentially overseas.

The crackdown extended beyond Phuket, with simultaneous operations in Chon Buri and Bangkok. In the capital, police searched private residences and front companies posing as currency exchanges, including a location named Hua Pi Tui Huan Chang in the Huai Khwang district.

For Phuket residents and the island’s large tourist population, the raids highlight growing concerns over the use of local businesses in international criminal schemes. The presence of illegal exchanges could expose the community to increased financial crime, while also impacting the reputation of Phuket as a safe destination for visitors and investors.

The CIB has confirmed that the investigation is ongoing, with further arrests and asset seizures anticipated as officers continue to analyse evidence. This action is part of broader government efforts to curb financial crimes and tighten regulation of cryptocurrency trading in Thailand.

Authorities have urged the public to remain vigilant and to report any suspicious financial activities. As the investigation progresses, police say they expect to uncover more details about the extent of the network and its operations in Phuket and beyond.

Source: https://thethaiger.com/news/phuket/crypto-raids-in-cherng-talay-linked-to-drug-trafficking-and-scams