BlockBeats reports that Thai authorities have carried out a major crackdown on illegal cryptocurrency operations, targeting five unlicensed companies in Bangkok, Nakhon Pathom, and Samut Prakan. The Economic Crime Suppression Division (ECD) arrested 11 individuals linked to these businesses, which allegedly processed transactions totaling 1 billion baht (approximately $29.3 million) annually. During the raids, police confiscated six computers and other relevant evidence. The arrested individuals include both company executives and employees. ECD Commander Thatphum Jaruprat stated that the investigation remains ongoing, reaffirming Thailand’s commitment to tackling financial crimes and maintaining market stability.