CandleFocus Thai Immigration authorities crack down on $620K cross-border crypto scam
2024-10-30
Author: Content Editor
Thai immigration officials have apprehended five individuals involved in a cross-border cryptocurrency scam that defrauded a local woman of over $620,000. The scammers established a fake investment group on Facebook called "Investor Chat Room" to attract victims, then persuaded the victim to move the conversation to the LINE messaging app. They convinced her to invest large sums in what they claimed were profitable cryptocurrency and stock portfolios. To build trust, they sent small returns, leading the victim to transfer a total of 21 million baht ($621,000) to multiple accounts. The laundered funds were used to purchase a luxury condominium in Bangkok. The suspects face charges including fraud and identity theft. This case highlights the ongoing issue of investment scams in the cryptocurrency space.
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