Police are looking for a self-made Thai billionaire investor and crypto pioneer after more than 30 Thai investors filed complaints with police, claiming they were duped into investing in cryptocurrencies, resulting in damages estimated at about Bt1.3 billion.
Police sources say this is not the first time that Worawat Narknawdee, who claims to hold 11,000 Bitcoins, has been under investigation.
In March 2023, the Securities and Exchange Commission filed a complaint with the Cybercrime Investigation Bureau, accusing him of operating the cryptocurrency trading firm ‘1000X Limited’ without a permit, in violation of the Digital Assets Business Act.
Before entering the cryptocurrency business, Worawat was the lead singer of a rock band, ‘DoubleDeep’, whose members were actively involved in investments in capital market.
Known under the name of ‘Acme Traderist’, he set up an organisation called ‘Traderist’, which provided knowledge about cryptocurrencies and investment in the digital assets to the public free of charge.
As an investor in Bitcoin since 2012, he is reported to hold over 11,000 BTC, with significant multi-million dollar investments in fintech and real estate in the UAE.
He is also considered to be a leading crypto billionaire in Asia. His ‘ACET’ company was one of the fastest growing digital asset entities.
Despite his polished high profile and celebrity status, the Department of Business Development’s information has exposed another side of Worawat, about which the public knew little.
According to the department’s Creden Data, a tool for viewing company data in Thailand, Worawat holds a 99.97% stake in the ‘Bitnance Company’ and specialises in providing fintech software and investment.
The company has, however, been operating in the red to the tune of about 30 million baht.
He also holds a 90% percent stake in the media firm ‘Great Begins Company’, registered in 2021.
This company has accumulated about 5.8 million baht in debt.
Police sources said that the billionaire investor has already fled to the UAE, where he has extensive investments in fintech, real estate and hospitality.
In March 2023, the Securities and Exchange Commission filed a complaint with the Cybercrime Investigation Bureau, accusing him of operating the cryptocurrency trading firm ‘1000X Limited’ without a permit, in violation of the Digital Assets Trading Act.
Before entering the cryptocurrency business, Worawat was the lead singer of a rock band, ‘DoubleDeep’, whose members were actively involved in investments in capital market.
Known under the name of ‘Acme Traderist’, he set up an organisation called ‘Traderist’, which provided knowledge about cryptocurrencies and investment in the digital assets to the public free of charge.
As an investor in Bitcoin since 2012, he is reported to hold over 11,000 BTC, with significant multi-million dollar investments in fintech and real estate in the UAE.
He is also considered to be a leading crypto billionaire in Asia. His ‘ACET’ company was one of the fastest growing digital asset entities.
Despite his polished high profile and celebrity status, the Department of Business Development’s information has exposed another side of Worawat, about which the public knew little.
According to the department’s Creden Data, a tool for viewing company data in Thailand, Worawat holds a 99.97% stake in the ‘Bitnance Company’ and specialises in providing fintech software and investment.
The company has, however, been operating in the red to the tune of about 30 million baht.
He also holds a 90% percent stake in the media firm ‘Great Begins Company’, registered in 2021. This company has accumulated about 5.8 million baht in debt.
Police sources said that the billionaire investor has already fled to the UAE, where he has extensive investments in fintech, real estate and hospitality.
