The US, the United Arab Emirates (UAE), and Chinese authorities have cracked down on multiple cryptocurrency pig-butchering scam centers that have taken millions of dollars from American victims.
276 Arrested, 6 Indicted In Global CrackdownThe international crackdown was led by the Dubai Police, under the UAE Ministry of Interior, which arrested 275 individuals last week, including three people charged in the Southern District of California with federal wire fraud and money laundering charges. Meanwhile, the Royal Thai Police arrested an additional person, bringing the total of detentions to 276.
According to the DOJ, Thet Min Nyi, Wiliang Awang, Andreas Chandra, Lisa Mariam, and two other fugitive co-conspirators have been charged with federal fraud and money laundering and could face up to 20 years in prison if convicted.
Specifically, a grand jury in the Southern District of California indicted Thet Min Nyi and a fugitive co-defendant in March, charging them with wire fraud, money laundering conspiracy, and criminal forfeiture allegations.
“These scammers thought they were safe half a world away,” said US Attorney Adam Gordon for the Southern District of California. “But their world has changed. Global crime now faces global justice.”
Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division emphasized that “the charges and arrests announced today reflect an international consensus that scam centers are unwelcome everywhere and must be rooted out.”
“Scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world. In contemporary society, fraud is borderless, and law enforcement activity to combat it and eliminate it is as well,” he added.
Crypto Pig-Butchering Centers BustedAccording to the indictment and other court records, the defendants seemingly engaged in crypto fraud schemes through “pit-butchering” scams, in which scammers gain a victim’s trust before exploiting them financially.
“The defendants targeted citizens of the United States and other countries by cultivating trust and affection with the victims, based on the charging documents and court filings,” the DOJ explained. “After that, the scammers promoted investments in cryptocurrencies and assisted victims in setting up accounts and transferring cryptocurrency to investment platforms that, unbeknownst to the victims, were false.”
Notably, the scammers encouraged victims to invest more by touting their alleged returns from the fake crypto investments, asking them to borrow money from friends and family or take out loans.
The Dubai Police Department, through its parallel investigation, helped disrupt the scam operations, the DOJ noted, highlighting its close collaboration with international law enforcement agencies to identify and dismantle transnational criminal networks.
The announcement also underscored the Royal Thai Police (RTP) Immigration Bureau, Foreign Affairs, and Anti-Cyber Scam Center, and Meta Platforms’ assistance in the investigation.
