Several Chinese arrested in Thailand, suspected of being involved in crypto fraud
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Answer Several Chinese arrested in Thailand, suspected of being involved in crypto fraud
Several Chinese nationals have been arrested in Thailand and suspected of being involved in an international fraud using cryptocurrency.
Nearly 24 people are now in Thai police custody.
All of them were part of an organization that targeted investors in China through a fraudulent program that advocated buying bitcoin at inflation rates, according to law enforcement officials in Thailand.
They were all arrested in a rented office known as “Galaxy Place” on the 2nd of December.
Among the items confiscated by police officials at the scene were more than 60 computers and 400 mobile phones.
Thai immigration officials were responsible for the raid.
Read:The woman behind the OneCoin scam is now one of the FBI’s ten most wanted fugitives.
The passports of the organization’s members were confiscated, including the person in charge of the organization, but he has not been arrested by the police so far.
The legal status of all members of the organization is still questionable.
Many who were part of the scam say that the head of the organization brought everyone in and convinced them to get free housing by working steadily for at least three months, earning more than 540 pounds each month.
Their passports were subsequently taken and they were forced to work more than 12-hour workdays.
From this perspective, it appears that employees have also been victims of fraud on the side of investors.
At the time of writing, it is unclear how many investors have fallen victim to the scam or how much employees have earned prior to their arrest.
Cases like this contribute to putting Bitcoin and other cryptocurrencies at a disadvantage in the region.
2019 was a big year for crypto-related crime.
Yesterday, we referred to a similar issue that occurred in an African country, where investors were defrauded with a fake currency:
Stealing Investors’ Money: Closing a Fraudulent Site in the Cryptocurrency World Based on a “Ponzi Scheme”
Read:After Elon Musk’s hint… Ripple is not alone in the fight against SEC
in addition to, The popular UpBit trading platform was recently stolen In South Korea, nearly $50 million worth of Ethereum coins were stolen.
Read also:
Upbit is the seventh exchange platform to be hacked in 2019
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