The fraudulent scheme enticed more than three thousand investors to invest in gold and USDT.

The Cyber Crime Investigation Bureau of Thailand (CCIB) has apprehended four Chinese nationals and one Laotian national in connection with a cryptocurrency investment platform that allegedly defrauded 3,280 local residents of an estimated 2,700 million Baht (approximately $76 million).

The individuals were accused of operating a fraudulent scheme under the assumed identity of BCH Global Ltd. which was a fraudulent Bitcoin investment platform. All four individuals have been charged with conspiracy to commit international crimes, public fraud, and money laundering.

Homeland Security Investigations hsi Thailand’s cybercrime inquiry bureau CCIB and other international law enforcement agencies launched the investigation in response to investor complaints alleging losses as a result of the advertisements posted at the end of the previous year

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According to the reports, the victims were deceived into investing in gold and USDT stablecoin. The Attorney General’s Office initiated the prosecution and as of the 4th of September, the anti-money laundering office (AMOLO) had seized assets amounting to 585.000.baht.

The CCIB will continue to inform victims of their legal rights, according to Kissana Katanacharoen, the organization’s spokesman. Victims can file complaints by calling the CCIB hotline or visiting the CCIB’s official website.

Just last month, Thailand’s minister of digital economy and society (MDES), suggested shutting down Meta (formerly known as Facebook, in order to combat financial crimes involving crypto assets.

MDES said that over 200,000 users had been deceived by the advertisements on the social platform.

“Crypto investment scams and trading scams are some of the most common tactics used to

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