Crypto operators freeze 10,000 suspect accounts(Photo: 123RF)Thailand's digital asset industry has intensified efforts to combat money laundering through mule accounts, with more than 10,000 suspicious accounts frozen under a newly enforced "Speed Bump" measure, according to the Thai Digital Asset Operators Trade Association (TDO). Att Thongyai Asavanund, chief executive of KuCoin Thailand and chairman of the TDO, said mule accounts remain one of the most serious vulnerabilities in the crypto system. Criminal networks typically disperse illicit funds through multiple bank accounts before consolidating them into a single account for transfer to a crypto platform. The association said the stricter screening process has resulted in the suspension of thousands to tens of thousands of accounts suspected of being mule accounts. However, operators face rising compliance costs and operational burdens in managing frozen accounts and investigating suspicious activity.

Source: Bangkok Post March 10, 2026 11:50 UTC