operation<\/a> was coordinated by the Federal Bureau of Investigation alongside law enforcement agencies in Dubai, Thailand, and China, targeting transnational networks behind so-called \u201cpig butchering\u201d scams.<\/p>\nDubai police arrested 275 individuals, while authorities in Thailand detained one suspect; prosecutors in the Southern District of California have charged three individuals with wire fraud and money laundering, the Justice Department said.<\/p>\n
Originating from an FBI probe in San Diego last year, the case identified multiple suspects and entities linked to organized scam compounds. Investigators said the network recruited workers into three entities \u2014 Ko Thet Company, Sanduo Group, and Giant Company \u2014 which authorities described as fronts operating fraud centers.<\/p>\n
How the fraud networks operated<\/h2>\n
Using long-term deception tactics, the suspects allegedly built relationships with victims before promoting fake crypto investment opportunities, a model the Justice Department identified as a standard \u201cpig butchering\u201d scheme.<\/p>\n
<\/p>\n
Victims in the United States and other countries were persuaded to transfer funds into fraudulent trading platforms, after which the money was routed through accounts controlled by the perpetrators and laundered across multiple crypto wallets, according to the statement.<\/p>\n
Authorities said the investigation has already identified \u201cmillions of dollars\u201d in losses linked to these operations, underscoring the scale of cross-border crypto fraud.<\/p>\n
\u201cFraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside,\u201d Assistant Attorney General A. Tysen Duva said.<\/p>\n
Enforcement expands amid rising losses<\/h2>\n
The crackdown follows earlier coordinated action between the FBI and Thai authorities, which led to the freezing of about $580 million in cryptocurrency and the seizure of 8,000 mobile devices used in scam operations, according to intelligence service Solid Intel.<\/p>\n
Law enforcement agencies have increasingly focused on dismantling fraud infrastructure at its source, with recent operations targeting large-scale compounds across Southeast Asia where such schemes are run.<\/p>\n
Data from the FBI showed crypto-related fraud losses reached a record $11.3 billion last year, accounting for more than half of the $20.9 billion in total internet crime losses tracked by the agency.<\/p>\n
<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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