Thai Authorities Arrest 5 Foreign Nationals for $27M Crypto Scam
Authorities in Thailand arrested five foreign nationals involved in a fraudulent crypto platform that saw investors lose $27 million....
- Five foreign nationals have been arrested in Thailand for operating a fraudulent cryptocurrency investment platform.
- The platform scammed over 3,200 residents, resulting in a loss of $27 million.
- The investigation was conducted by Thailand's Cyber Crime Investigation Bureau (CCIB) in collaboration with international law enforcement agencies.
- The accused individuals, four from China and one from Laos, have been charged with public fraud, money laundering, and conspiring to commit transnational crime.
- The Office of the Attorney General in Thailand is prosecuting the suspects, and property worth 585 million Thai baht has been confiscated by the Anti-Money Laundering office.
- Victims were approached by strangers or foreigners who invited them to invest in the platform, promising high and guaranteed returns over a short time.
- Online investment scams involving cryptocurrencies are on the rise in Thailand, with over 200,000 people falling victim to scams promoted through Facebook advertisements.
- The Ministry of Digital Economy and Society of Thailand has requested Facebook to block fake pages and fraudulent advertisements.
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