BANGKOK, THAILAND – In a sweeping operation across 109 sites, Thai cyber police dismantled an unlicensed cryptocurrency network that traded WorldCoin tokens in exchange for iris scans.
The crackdown, code-named Operation Dawn Break, was conducted jointly by the Cyber Crime Investigation Bureau (CCIB) and the Securities and Exchange Commission (SEC), marking one of Thailand’s largest actions yet against illicit digital asset trading.
Coordinated raids across the country
Special units led by Lieutenant General Suraphon Prembutr moved simultaneously in provinces nationwide on 24 October 2025. The raids targeted traders involved in the unauthorized exchange of WorldCoin (WLD), a cryptocurrency distributed to individuals who submitted iris scans through so-called ORB devices.
Two suspected brokers were detained. One, a 35‑year‑old identified as Sutti, was arrested at a petrol station on Nawamin Road in Bangkok after admitting he had bought WorldCoin from members of the public, earning around 7–8 percent profit on each transaction. A second trader, 45‑year‑old Kitti, was apprehended inside a shopping mall on Ratchadaphisek Road while converting digital tokens into cash.
How the iris-scan system worked
Investigators found that Thai participants received around 30 WorldCoin tokens—each worth roughly 28 to 30 baht (about €0.70)—once they allowed their iris to be scanned by the ORB devices. Two computer shops were operating such scanners, where company representatives assisted users in completing the biometric verification and app installation steps.
Under Thai law, collecting biometric data is not in itself prohibited. However, trading or brokering cryptocurrencies without authorization from the SEC breaches national financial regulations. The investigation began after members of parliament raised concerns about the handling of sensitive biometric information.
Authorities probe data privacy breaches
Officials are now examining whether local operators of the ORB devices promoted the exchange of personal biometric data for cryptocurrency. Chat records obtained by investigators reportedly point to potential coordination between company staff and token traders.
Chomkwan Kongsakul, deputy secretary-general of the SEC, stressed that “the public should only use licensed digital asset exchanges.” She reminded that violations of Section 66 of the Digital Asset Businesses Law carry sentences of two to five years in prison and fines of 200,000 to 500,000 baht.
Regulators tighten oversight of biometrics in crypto
Prior to the raids, the SEC had already urged caution in dealing with WorldCoin and suspended any further expansion of iris-scan registration sites in Thailand due to privacy concerns. Regulators are now assessing the risks of potential data misuse and whether biometric information could be exploited by criminal networks.
The case underscores Thailand’s determination to curb illegal cryptocurrency activity and reinforces its stance on protecting citizens’ personal data amid the rapid rise of digital assets and biometric technology.