A hotel owner in Pattaya says digital assets worth about 6.5 million baht were mysteriously sold from his cryptocurrency trading account before the funds were used to purchase a token whose price briefly spiked abnormally, leaving less than 50,000 baht remaining. The incident was reported on 12 March 2026 by Tewin Wongsawisutthikul, 42, who approached reporters to describe the suspected unauthorised activity. He has since filed a complaint with investigators at Pattaya City Police Station. Get today's headlines by email Tewin said the cryptocurrency had been accumulated in an electronic wallet linked to a Thailand-based trading application. He confirmed that two-factor authentication (2FA) had already been enabled on the account as a security measure. Despite this, he later discovered that his holdings had been sold without his knowledge. According to Tewin, the suspicious activity began after he received a security alert via email late the previous night. Concerned about the notification, he said he immediately stopped using the account and contacted the trading platform to temporarily suspend deposits and withdrawals. The warning raised fears that unauthorised access may have occurred. However, when he checked the account again later that afternoon, he discovered that his digital assets had been gradually liquidated in multiple transactions starting at around 06:00. By the time the process ended, the entire balance had effectively been drained. The value of the account had fallen from more than 6.5 million baht to under 50,000 baht. Tewin said the proceeds from the sales were then used to purchase 10,538 units of the cryptocurrency token TAIKO. The transactions were reportedly executed at a price of more than 600 baht per coin, totalling roughly 6.5 million baht. Under normal trading conditions, he said the token usually trades at about 3 baht per coin. He added that the token’s price surged during a brief window of roughly four minutes before quickly falling back to around 3 baht. Because the purchase occurred at the peak of the spike, the value of the assets in his account dropped sharply once the price returned to normal levels. After discovering the transactions, Tewin contacted the company operating the trading application. He said the firm informed him that the matter would be investigated and that the results would be reported at a later stage. No further explanation has yet been provided regarding how the trades occurred. Khaosod reported that Tewin said he remains deeply concerned about the incident and urged the company to conduct a rapid investigation. He also expressed hope that the digital assets lost in the transactions could be recovered. Police are now reviewing the complaint as part of the investigation. Pictures courtesy of Khaosod Related stories Thai-billionaire-wanted-for-alleged-crypto-scam Chinese-boss-tuan-arrested-over-128m-crypto-scam Join the discussion? Already a member? Adapted by ASEAN Now Khaosod 14 Mar 2026
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