Police in Thailand have arrested five foreign citizens who organized a fraudulent scheme with investments in cryptocurrencies, because of which more than 3,200 residents lost a total of $27 million.
Kissana Phathanacharoen, a spokesperson for the Thai Cybercrime Investigation Bureau (CCIB), said four Chinese and one Laotian citizen were among those arrested. The Anti-Money Laundering Authority confiscated 585 million Thai baht (about $16.2 million) from them.
The agency began receiving complaints from affected investors in November 2022. The victims claimed to have lost their funds on the bchgloballtd platform. Many people invested all their accumulated savings, and some even issued a mortgage on real estate.
CCIB began investigating the platform's activities with the assistance of the US Department of Homeland Security and other international law enforcement agencies. It turned out that many people involved in the work of this platform deceived users on other fraudulent platforms.
Scammers offered investors to invest in USDT stablecoins and other cryptocurrencies, promising high and guaranteed profits in a short period of time. Thus, the total loss of Thai users amounted to about $27 million. The organizers of the scam were arrested on charges of fraud, money laundering and conspiracy to commit international crimes. CCIB will continue to contact victims affected by cryptocurrency fraud.
Kissana Phathanacharoen, a spokesperson for the Thai Cybercrime Investigation Bureau (CCIB), said four Chinese and one Laotian citizen were among those arrested. The Anti-Money Laundering Authority confiscated 585 million Thai baht (about $16.2 million) from them.
The agency began receiving complaints from affected investors in November 2022. The victims claimed to have lost their funds on the bchgloballtd platform. Many people invested all their accumulated savings, and some even issued a mortgage on real estate.
CCIB began investigating the platform's activities with the assistance of the US Department of Homeland Security and other international law enforcement agencies. It turned out that many people involved in the work of this platform deceived users on other fraudulent platforms.
Scammers offered investors to invest in USDT stablecoins and other cryptocurrencies, promising high and guaranteed profits in a short period of time. Thus, the total loss of Thai users amounted to about $27 million. The organizers of the scam were arrested on charges of fraud, money laundering and conspiracy to commit international crimes. CCIB will continue to contact victims affected by cryptocurrency fraud.
