76M crypto scam in Thailand, 5 people arrested

Thailand’s Cybercrime Investigation Bureau (CCIB) has apprehended five individuals. They are allegedly responsible for a large-scale cyberattack that targeted more than 3,000 investors and led to the embezzlement of nearly $76 million.

Masters of multi-million dollar cyberattack apprehended in Thailand!

Thai authorities are deeply engaged in a fierce battle to curb the rising tide of crypto-related scams that are wreaking havoc across the country.

Just last month, the Thai Digital Minister was even considering banning Facebook from the country due to the proliferation of cryptocurrency-related scams.

Recently, Thailand’s Cybercrime Investigation Bureau (CCIB) announced a significant victory. The CCIB dismantled a crypto-investment platform that was alleged to have defrauded more than 2.7 billion baht, or around $76 million.

Following this intervention, four Chinese nationals and one Laotian were taken into custody. According to the Bangkok Post, they are accused of deceiving 3,280 residents using the fictitious identity of BCH Global Ltd., claiming to be a legitimate Bitcoin investment platform.

The suspects are now facing a slew of serious charges, including conspiracy to commit transnational crimes, public fraud, and money laundering.

16 million dollars already seized by authorities

This joint operation was led by the CCIB in collaboration with Homeland Security Investigations and other international agencies.

The Anti-Money Laundering Office said it had seized assets worth 585 million baht, equivalent to about $16.4 million.

The investigation was initiated after numerous investors, concerned about significant losses, reported their experiences. These reports were related to the website bchgloballtd.com and date back to the end of 2022.

Kissana Phathanacharoen, the spokesperson for the CCIB, affirmed the organization’s commitment to maintaining open communication with the victims and guaranteeing their legal rights. Those affected are urged to contact the Cyber Crime Investigation Bureau via the 1441 hotline, or to file a complaint via the official website of the Royal Thai Police.