Five foreigners arrested in Thailand over a $27 million cryptocurrency scam

The Thai Cyber Crime Investigation Bureau has arrested five foreign nationals over an alleged cryptocurrency investment fraud scheme, according to local media.

Victims of a platform named bchgloballtd.com numbered at least 3,280 people. They began filing complaints with the police in November 2022, claiming they had been duped into investing in gold and the stablecoin USDT.

In total, losses from the platform’s activities exceeded $27 million.

The Office of the Attorney General of Thailand traced the scheme’s organizers to August 2023. They were four Chinese nationals and one Lao national.

The suspects were charged with conspiracy to commit transnational crime, public fraud, and money laundering. The Anti-Money Laundering Office seized personal assets worth 585 million baht ($16.4 million).

Earlier ForkLog reported that the Thai police arrested two Russian nationals on suspicion of cryptocurrency fraud, which led to the deaths of several local residents.