Thai Cyber Crime Operation Disrupts Chinese Crypto Scam Group, Seizes $18M in Assets
Thai authorities have achieved a significant breakthrough in the fight against crypto fraud with the arrest of seven Chinese nationals and the seizure of $18 million in assets. Operating under the name Trust No One, the Thai Cyber Crime Investigation Bureau (CCIB) conducted a successful operation to dismantle a notorious crypto scam gang involved in investment scams and money laundering.
In the initial phase of the operation, the CCIB carried out raids on six suspicious locations in Bangkok’s Sri Nakarin neighborhood, resulting in the arrest of two Chinese nationals. Xao Xian Su, a 31-year-old man, and Qi Yi Yee, a 25-year-old woman, allegedly used fake social media profiles to entice victims into investing in a fraudulent crypto business. The overall damage caused worldwide by their scams reached over 10 billion baht, with 2.5 billion baht being within Thailand alone.
Further investigations led the authorities to uncover two more Chinese nationals involved in the crypto fraud. However, it became apparent that additional members of the gang were still at large, primarily engaged in money laundering activities. These individuals were found responsible for channeling the ill-gotten gains into luxury properties in Thailand.
To apprehend the remaining suspects, the police conducted raids at 25 locations in Bangkok, resulting in the arrest of three more Chinese scammers. Among them were Zhang Han Lin, a 54-year-old, Zhou Lu, aged 29, and Liu Jiayu. Zhang Han Lin was also wanted under an arrest warrant issued by Chinese authorities.
While two of the culprits were apprehended at a luxury hotel in the Rama 9 neighborhood, the third was captured in Soi Sukhumvit 101. During these operations, law enforcement officers seized a substantial amount of evidence, including 4 million baht in cash, documents for three luxurious condominium units worth 44 million baht, three luxury vehicles, a bank account, a tablet, designer brand bags, and fake passports.
The authorities have made it clear that their primary objective is to return the seized assets, which total over 600 million baht, to the victims. Gradually, the remaining confiscated assets will also be repatriated to victims both in Thailand and worldwide.
This successful operation demonstrates Thailand’s commitment to combating cybercrime and protecting innocent individuals from falling victim to fraudulent schemes. By striking at the heart of the scam and confiscating substantial assets, the authorities serve as a strong deterrent for potential fraudsters while providing a glimmer of hope for those who have already suffered losses.
The global community must remain vigilant in the face of evolving cyber threats, and collaborative efforts between law enforcement agencies across borders will be crucial in bringing criminals to justice. As scammers continue to adapt their techniques, authorities must respond with continued diligence to ensure a safer digital landscape for all.
