In line with a report by The Nation, Authorities famous that the group moved greater than $50 million by way of this course of.

The arrest occurred at Bangkok’s Suvarnabhumi Airport on August 23, the place officers stopped the suspect, recognized as Han, below a warrant issued in February.

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His cellphone was taken through the operation, and investigators stated it held entry to a number of cryptocurrency accounts linked to the scheme. Han faces prices that embrace fraud, cash laundering, pc crimes, and hyperlinks to a legal syndicate.

The investigation started after a number of folks reported falling for a rip-off in 2024. They had been promised excessive returns of 30% to 50% by way of what gave the impression to be funding offers.

The stories led the Know-how Crime Suppression Division (TCSD) to open a case, which resulted within the arrests of 10 suspects: 5 accused of dealing with unlawful funds and 5 alleged account mules.

Police stated Han had studied in China earlier than working for a South Korean enterprise that helped the fraud community by turning crypto into gold bars. He allegedly managed the accounts that gathered sufferer funds, used them to purchase gold from overseas sellers, and ensured the shipments went again to the group behind the rip-off.

Investigators estimate that from January to March 2024, about 47.3 million USDT handed by way of Han’s wallets. Every spherical of laundering is claimed to have concerned a minimum of 10 kilograms of gold, value round $1 million per cargo.

Lately, Taiwan Shilin District Prosecutor’s Workplace arrested fourteen people accused of operating a cryptocurrency laundering scheme. How did the case unfold? Learn the total story.