Journalist Zeke Faux uncovered a large human trafficking ring in Cambodia while investigating crypto scams surrounding the Tether stablecoin.

Cryptocurrency scams and exchange hacks have become almost a norm in the digital asset space. But recent revelations by Bloomberg investigative reporter Zeke Faux show how cryptocurrencies are being used as fishing hooks for more sophisticated and larger-scale criminal activity — in this case, human trafficking.

Faux’s journey began with a seemingly innocuous text message from a woman named Vicky Ho. Vicky, who claimed to be a divorced woman who ran a chain of nail salons in New York, struck up a conversation with Faux that ultimately led to his cryptocurrency investments.

Suspecting it was a scam, Faux cooperated to gather more information. Vicky introduced him to a cryptocurrency trading app called ZBXS and instructed him to deposit Tether to start trading.

Faux’s initial investigation was aimed at understanding the legality of Tether’s stablecoin USDT. However, his investigation took a grim turn when he uncovered a human trafficking ring operating out of Cambodia.

As Faux dug deeper, he discovered that the scam, colloquially known as "pig killing," was more than just financial fraud, but a front for a more sinister operation. It was orchestrated by Chinese gangsters based in Cambodia and Myanmar, who lured young people from Southeast Asia with the promise of high-paying jobs. Once there, they were held captive and forced to engage in criminal activity, including scams like the one Wikipedia was involved in.

Faux’s investigation revealed that the factories were located in large complexes, such as the “Chinatown” in Sihanoukville, Cambodia. The compound was filled with office buildings and thousands of imprisoned workers were sent spam under threat of torture or death. Some workers reported being force-fed methamphetamine to increase productivity.

Zeke Faux’s story is not an isolated case. Recent reports indicate that more than 200,000 people in Cambodia and Myanmar have been coerced into scamming large criminal enterprises. These scams range from cryptocurrency fraud to online betting, and they are also active in other Southeast Asian countries such as Laos, Thailand and the Philippines. #加密诈骗  #柬埔寨