The Royal Thai Police have partnered with leading cryptocurrency exchange, Binance, to recover a staggering $277 million from an alleged group of cryptocurrency fraudsters.
Binance supplied critical intelligence to law enforcement agencies, which led to the exposure and dismantling of the criminal syndicate. The operation, dubbed “Trust No One”, resulted in the apprehension of five key members of the syndicate and the seizure of $277 million worth of assets. Over 3,200 victims have since contacted authorities to claim compensation.
The collaborative effort involved the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police, Binance, and the United States Homeland Security Investigations (HSI). The team managed to dismantle a widespread crypto scam, referred to as a ‘pig butchering’ scheme, in Thailand.
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