Thailand’s Central Bank: Thai 5,564-BTC Fraud Not About Crypto

Head of Thai’s Central Bank warns investors

Tue, 21/08/2018 - 13:23

Thailand’s Central Bank: Thai 5,564-BTC Fraud Not About Crypto

Cover image via U.Today

The recent fraud involving a famous Thai actor and the 5,564 BTC stolen from a Finnish investor has got a lot of attention on a global scale. However, the head of the Bank of Thailand (BOT) Veerathai Santiprabhob insists this fraud is not about virtual assets or crypto trading. It is about using money for the wrong purposes.

He reminded everyone that investing in crypto is highly risky owing to volatility and that it is wise to spend only as much funds on crypto as one can afford to part with for good.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.