Five French tourists sparked panic as they allegedly fought over a Bitcoin deal sparking alarm among residents in Phuket.

The 'crypto bros' allegedly screamed and attacked each other when negotiations fell through late Thursday evening.

CCTV footage at their apartment complex on the Thai holiday island shows the men arguing out on the street. One of them was seen jumping from the building onto a parked car.

Neighbours said they were jolted awake by shouting and what sounded like gunshots. They called the police amid kidnapping fears.

Police Lieutenant Surachai Wathitsuphaphon of the Mueang Phuket Police Station said officers were dispatched to the scene at 1:40 am local time.

He said: 'Police searched the scene and checked the belongings of the five foreigners but found no firearms or bullet marks, though there were signs of a physical altercation. All of them were taken to Phuket City Police Station for questioning.

'During the initial investigation, they admitted to arguing over a Bitcoin transaction, which escalated into a physical fight causing minor injuries. No weapons were involved. The injured were sent for medical examination as part of the legal process.'

Officials identified the Frenchmen as Lachguer Mohamed, Tepetasl Ibrahim, Ait Hdach Llyes, Sam Hambri, 31, and Bachir Boubidi, 28.

Police Colonel Chatri Chukaew, superintendent of Mueang Phuket Police Station, said: ‘Currently, we are questioning all five of them. The person who jumped into the back of someone's vehicle is one of three individuals searching for Hambri and Boubidi.

‘They were detained for stealing cryptocurrency, but we could not determine whether it was a kidnapping or not.'

The once-pristine island of Phuket has been marred by over-tourism as the Thai government implements a visa-free scheme to boost revenue following the barren pandemic years.

Angry locals claim the push for tourist dollars has attracted crowds of 'low-quality' visitors from Russia, India and Australia. There are also fears that the island has become an enclave of criminal activity, with police unable to control street fights and more organised ruffians setting up rackets among local businesses.