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New complaints have been filed with the Thai police against the crypto platform 1000X by 30 investors who collectively lost approximately 1.39 billion baht (over $40 million). The affected individuals claim they were deceived into investing in this platform.
The Securities and Exchange Commission of Thailand (SEC) has confirmed that legal proceedings are already underway against 1000X promoter Worawat Narknawdee, also known as Acme Traderist. A complaint against 1000X Limited, the operator of the website 1000x.live, was submitted by the regulator back in March 2023.
According to police reports, Worawat may have left Thailand and traveled to the United Arab Emirates, where he might have other business interests.
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To avert further losses for investors, the SEC sent a request to the Ministry of Digital Economy and Society of Thailand last year, urging them to block access to the 1000X platform. The regulator also advised citizens to verify the licensing of companies dealing with digital assets before investing their funds.
Previously, the SEC of Thailand took similar actions against unlicensed crypto services. In 2025, the regulator blocked access to five crypto exchanges—Bybit, CoinEx, OKX, XT.com, and 1000X—stating that they were servicing Thai traders without proper licensing. Information regarding these platforms was forwarded to the Economic Crime Suppression Division.
The Thai financial regulator also mandated that the company World, formerly known as Worldcoin, cease the collection of biometric data from local residents.
Recently, operators of crypto platforms in Thailand were compelled to freeze over 10,000 accounts due to suspicions that their owners might be using cryptocurrencies for laundering illicitly obtained funds.
