SEC and CCIB Crack Down on Unlicensed Worldcoin Exchange, Arrests Made
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Thailand’s financial regulators have taken decisive action against Worldcoin (WLD), raiding exchange services and arresting suspects accused of operating a digital asset business without the required license.
On October 24, 2025, a joint operation between the Securities and Exchange Commission (SEC) and the Cyber Crime investigation Bureau (CCIB) targeted Worldcoin‘s iris scanning locations in Bangkok. The raid resulted in multiple arrests as authorities investigate potential violations of thailand’s Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). The operation underscores a growing global effort to regulate the burgeoning cryptocurrency industry and protect investors from fraud and illicit financial activity.
Protecting Users from Scams and Money Laundering
The primary objective of the raid, according to officials, was to safeguard users from the risks associated with unlicensed digital asset businesses. These risks include potential scams and the facilitation of money laundering. The SEC had previously issued a public warning regarding the dangers of engaging with unauthorized operators offering WLD coin exchange services.
“This collaboration will enhance the effectiveness of law enforcement in prosecuting and suppressing unlicensed digital asset businesses, while protecting users from lack of legal protection and mitigating risks of scams and money laundering,” stated a senior official at a joint press conference following the arrests.
Legal Framework and Penalties
The investigation centers on whether the exchange service provider violated Section 3 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) by operating without a license, in contravention of Section 26. Penalties for such violations are outlined in Section 66 of the same act. Investigators are pursuing further legal proceedings against those arrested.
The SEC has emphasized its commitment to monitoring digital asset business operators and ensuring compliance with regulations governing the offering of digital asset services and promotional activities. Any business found to be engaging in or supporting illegal activities will face legal repercussions.
Investor Caution Urged
The SEC strongly advises the public and investors to exercise extreme caution when considering services from unlicensed digital asset business operators. Without proper licensing, users are not afforded legal protection and are vulnerable to scams and money laundering schemes.
Investors can verify the legitimacy of digital asset businesses through the following resources:
- A list of licensed operators is available on the SEC website: www.sec.or.th
- the SEC Check First application provides additional verification tools.
- A list of unauthorized individuals and entities is available on the SEC website’s Investor Alert page: https://market.sec.or.th/public/idisc/th/InvestorAlert
Reporting Suspicious Activity
The SEC encourages anyone with information or leads regarding suspicious activities to contact the SEC Complaint Center via Hotline 1207, the SEC Official Facebook Page, or SEC Live Chat on the SEC website.
This latest action by the SEC and CCIB sig
