Thailand’s citizens are waking up to frozen bank accounts: Bitcoin anyone?

Thailand froze three million bank accounts in an anti-scam crackdown, ensnaring users and prompting debate over whether Bitcoin offers a safer alternative.

Innocent people and businesses have reportedly been caught in the crossfire as Thai banks froze millions of accounts suspected to be “mules” for scammers over the weekend. 

The nationwide crackdown began in August, and weekend reports suggest that banks have frozen three million accounts and imposed daily transfer limits on all bank customers in the Kingdom, according to reports.  

However, the Cyber Crime Investigation Bureau (CCIB) reported on Sunday that bank accounts of innocent online vendors and merchants are being frozen too after scammers adopted new methods to launder stolen money, according to the Bangkok Post. 

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