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This fraudulent operation tricked more than 3,000 investors into putting their money into gold and USDT, a stable cryptocurrency.
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Thailand’s Cyber Crime Investigation Bureau (CCIB) has arrested four Chinese nationals and one individual from Laos in connection with a fraudulent cryptocurrency investment platform that swindled approximately $76 million (2.7 billion Baht) from local investors.
Fake Bitcoin Investment Scheme
The scammers operated under the guise of “BCH Global Ltd.,” posing as a Bitcoin investment platform. They deceived 3,280 residents who believed they were investing in gold and the USDT stablecoin. These individuals now face charges related to transnational crimes, public fraud, and money laundering.
The investigation was launched by Thailand’s CCIB in collaboration with Homeland Security Investigations and various international law enforcement agencies. It began after reports from affected investors who suffered losses through the website bchgloballtd.com in late 2022.
As of September 4, Thailand’s Anti-Money Laundering Office had seized assets valued at 585 million Baht. CCIB spokesperson Kissana Phathanacharoen reaffirmed the organization’s commitment to assisting victims in understanding their legal rights.
Reporting and Measures Against Online Scams
Victims of such scams can report their complaints through CCIB’s hotline or official website. In related efforts, Thailand’s Minister of Digital Economy and Society (MDES) has considered measures, including potential actions against Meta (formerly Facebook), to combat financial crimes, particularly those involving cryptocurrency. MDES noted that many users had fallen victim to scams, including fraudulent crypto investments, through advertisements on social media platforms.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.