Thai Authorities Crack Down on $27 Million Cryptocurrency Scam 🚨
Authorities in #Thailand have apprehended five foreign nationals tied to a fraudulent cryptocurrency investment platform that defrauded local investors of over $27 million.
The suspects, four from China and one from Laos, were arrested by Thailand's Cyber Crime Investigation Bureau (CCIB) after more than 3,200 locals reported losses from their investments in bchgloballtd.com.
The accused face charges of transnational crime collusion, public fraud, and money #laundering . The Office of the Attorney General in Thailand initiated prosecution proceedings in August 2022, leading to the confiscation of 585 million Thai baht worth of personal property from the suspects.
Investment schemes continue to wreak havoc in Thailand, prompting regulatory action, including new requirements from the Securities and Exchange Commission to protect investors and their assets.
Scammers are becoming increasingly sophisticated, targeting users through deceptive government-owned website URLs to access #crypto wallets.
