In Thailand, a Chinese citizen named Tianwei was arrested for allegedly being involved in a $6.15 million Bitcoin scam, which is part of broader regional efforts to combat crypto crime.
Details of the Bitcoin Scam
The scheme started on April 23 in Chiang Rai province when Tianwei met with two Chinese businessmen under the pretense of a Bitcoin-related deal. Trusting him, the victims transferred approximately 200 million Thai baht (about $6.15 million) to Tianwei's wallet. However, Tianwei vanished shortly after the transfer, leading the businessmen to realize they had been defrauded.
Arrest Operation
Following the issuance of an arrest warrant for Tianwei on May 16, law enforcement quickly increased surveillance at international airports. On June 12, Tianwei arrived at Don Mueang Airport to board a flight to Singapore. Immigration police arrested him at 6:00 a.m. Upon arrest, Tianwei confirmed his identity and acknowledged the charges but claimed it was his first time being arrested.
Combating Crypto Crime in Asia
Tianwei’s arrest is part of a broader crackdown on crypto-related fraud across various Asian countries. In India, local authorities apprehended a resident suspected of involvement in a crypto-related scam and seized over $327,000 in digital assets. In Vietnam, police uncovered a massive pyramid scheme called Matrix Chain, defrauding approximately 185,000 victims of nearly $400 million.
These incidents underscore the risks associated with cryptocurrencies and the importance of safeguarding against fraud. Tianwei's arrest showcases the Thai authorities' effectiveness in investigating and prosecuting crypto criminals.
