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 analyze.

According to the Bangkok Post, the cryptocurrency undertaking, often known 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 % per week, attracting people from Krabi, Trang, Yala, Pattani, and Narathiwat who offered their property — together with automobiles, 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 analyze alongside regulation 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 bolster its robust stance on cryptocurrency and blockchain.

Though right now’s information received’t convey complete solace to victims, it’s actually a step in the best path in the event that they’re ever to recuperate the misplaced funds.

Revealed January 17, 2020 — 14:30 UTC



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