Thailand Cracks Down on Iris-Scan Crypto Network in Nationwide Raids

Authorities launched a nationwide crackdown on an unlicensed crypto operation using iris-scanning devices linked to a digital coin project. Over a hundred sites were raided, and at least two brokers were arrested for running illegal exchange services. Officials say the biometric data collection was tied to token distribution without approval from financial regulators. The raids highlight growing scrutiny over privacy and compliance in Thailand’s digital-asset market. The move aims to protect users from fraud and reinforce strict oversight of cryptocurrency activities.

Too little, too late. This has been going on for over 6 months with huge crowds of desperately poor and also those from lower economic strata queuing up for their Iris scans in exchange for some digital crypto which would then be sold to middlemen at a hefty discount as they would not know how to encash crypto.