According to the report, 30 people have filed a complaint, which stated that they were fooled into an alleged investment scam called ‘CryptoMining.Farm’. This led to the loss of THB 42 million, which represent USD 1.34 million. Local authorities suspect that a total of 140 individuals were affected by the scam.
CryptoMining.Farm supposedly promised investors an annual return of 70%, and the option to withdraw their funds at any time with no conditions. The Bitcoin (BTC) mining contracts offered by the company reportedly ranged from three months to a lifetime. However, as per the Bangkok Post, since August 2018, the owner began imposing conditions for withdrawing the money. Starting February 2019, the site announced it would pay back investors in 84 instalments but the payments would be made in foreign currencies, which is illegal under Thai law.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now