Thai police have frozen $2.5 million in Tether (USDT) linked to a high-profile scam operation, uncovering ties to human trafficking.
Uncovering the Scam Operation
Thai police, in collaboration with Chinese authorities, revealed a scam scheme involving two Chinese nationals, Ye Wanyou, 29, and Li Weijie, 30. The suspects were arrested on February 5 in Bangkok. The operation led by the Police Cyber Taskforce and Huamark Police Station discovered hidden crypto wallets with $2.5 million in assets, which were frozen.
Links to Human Trafficking and Fraud
Authorities suspect that the individuals were involved in human trafficking, operating near Thailand's Mae Sot district. Connections to scam centers in Phnom Penh, where fraudulent products were sold, were identified. The suspects face charges of public fraud.
Legal Implications and International Cooperation
The Thai government is tightening measures against financial crimes involving digital assets. Recent operations highlight increasing international efforts to combat scams. This includes cases like the arrest of Chinese nationals in Nigeria and the discovery of fraud in Hong Kong.
This case highlights the importance of cross-border collaboration in fighting financial crimes and Thailand's efforts in enhancing regulatory measures.
