Thailand Cracks Down on $27 Million Cryptocurrency Investment Scam, Arrests Five Foreign Nationals
Summary:
Thailand arrests five foreigners involved in a $27 million cryptocurrency investment scam that victimized over 3,200 local investors. The suspects are charged with transnational crime, fraud, and money laundering. Assets seized, and legal action imminent. Investment scams prevalent in Thailand, as authorities take steps to protect investors. MetaMask users targeted by scammers using government-owned website URLs.
Thailand: Five foreigners arrested for involvement in $27 million cryptocurrency investment scam. The Cyber Crime Investigation Bureau apprehended four individuals from China and one from Laos who were responsible for defrauding over 3,200 local investors. The investigation was launched in late 2022 after affected investors reported losses incurred through bchgloballtd.com. The suspects have been charged with colluding in transnational crime, public fraud, and money laundering. Following their arrest, the anti-money laundering office seized 585 million baht worth of personal assets from the accused. The Office of the Attorney General is set to prosecute the suspects, while Thailand's Securities and Exchange Commission has introduced new regulations to protect investors. Investment scams continue to cause significant financial harm in the country, with victims often investing their life savings or taking out loans against their properties. In related news, scammers have been targeting MetaMask users by using government-owned website URLs to gain access to their cryptocurrency wallets.
Published At
9/11/2023 2:02:42 PM
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