International Cooperation: US Government, Binance, and Thai Police Unite to Dismantle Massive Fraud Network, Seize $277 Million
In a significant joint operation, the US government, Thai police, and the world’s leading cryptocurrency exchange, Binance, have successfully dismantled a multi-million-dollar crypto scam.
Binance, along with the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police and the US Homeland Security Investigation (HSI), played a crucial role in uncovering and disrupting the criminal network behind a sophisticated pig butchering scam that targeted unsuspecting novice traders with fake investment platforms. Thanks to intelligence provided by Binance and HSI, the CCIB arrested five key members of the group and seized assets valued at approximately THB $10 billion ($277 million USD), including luxury cars, homes, land, and other high-end items.
This operation has brought justice to over 3,200 victims who fell prey to the scam. Police Lieutenant Colonel Thanatus Kangruambutr, Inspector of the Cyber Support Unit in Thailand’s Cyber Crime Investigation Bureau, expressed gratitude for Binance’s significant contribution in combating these scams, emphasizing the importance of such partnerships in the ongoing battle against financial fraud and cybercrimes.
Clever Robot News Desk 4th October 2023
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