Cryptocurrency buyers who fell for an alleged pyramid scheme that resulted in losses of greater than $2.46 million (THB75 million) have requested Thailand‘s Division of Particular Investigation (DSI) to research.

According to the Bangkok Post, the cryptocurrency challenge, referred to as “Khung Nong Cryptocurrency Buying and selling,” grew to become well-known in components of the nation in 2018.

The scheme allegedly promised most returns of eight p.c per week, attracting people from Krabi, Trang, Yala, Pattani, and Narathiwat who bought their belongings — together with vehicles, companies, and land — in order to take a position.

[Read: Thailand’s oldest bank hints at new blockchain app powered by Ripple]

Human rights activist Phadungsak Tienpairoj, who has referred 20 victims to the DSI, has now reportedly taken up the case and prompted the division to research alongside legislation enforcement within the Krabi province.

Thailand made headlines in November 2018 because it ready to launch its first regulated preliminary coin providing (ICO) portal in a bid to strengthen its robust stance on cryptocurrency and blockchain.

Though right this moment’s information gained’t deliver whole solace to victims, it’s actually a step in the correct course in the event that they’re ever to recuperate the misplaced funds.

Printed January 17, 2020 — 14:30 UTC



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