A man from South Korea in Bangkok, Thailand, was arrested on Saturday, accused of washing more than $ 50 million of cryptocurrencies in material gold bars in just three months.
The man, which was identified by the Thai authorities only “Han”, was a major figure in the network fraud network that attracted the victims with promises from 30 to 50 % on the investment. The authorities say the victims were initially paid with small amounts to build confidence before they started facing the limits of clouds later.
Meanwhile, Han has allegedly collected 47.3 million in Tether, which is Stablecoin linked to the value of the US dollar. He claimed that he used digital funds to buy golden bars, each of which is more than 10 kilograms or 22 pounds, with every treatment of more than one million dollars.
The police said the gold bars were used to convert illegal encryption funds into a concrete commodity that the deceptions could move across the border without discovering them.
After the victims began to file complaints, the Thai Criminal Court issued an arrest warrant for Han and his stubbornness in February. Eleven people, including Han, have so far been arrested with participation in the fraud process Thai media.
The Thai police arrested Han at Bangkok Airport in Sofnabumi, accusing him of fraud, suicide, computer crimes, money laundering and participation in a criminal union.
He lost victims all over the world 10.7 billion dollars for encrypted fraud In 2024, according to TRM Labs TRM Blockchain Intelligence. The report found that global coding fraud in general increased by 456 % during the past year. Experts advise people to use to caution In their currency approach or even to avoid it completely.
Crypto in particular contains the turbine -border fraud: border, immediate, and unknown for encryption transactions that facilitate these criminal operations, while deals escape from the usual organizational supervision of financial transactions across other borders.
Thailand is betting on encryption
The news also comes as the Thai government offers a great bet on encryption in the hope of renewing its tourism industry.
Earlier this week, Thailand announced a 18 -month pilot program that would allow tourists to transfer encryption to the local currency, Thai Baht, through Thai exchange platforms to make payments for local companies.
The Thai Finance Ministry said that it will transfer transfers at 550,000 baht, equivalent to about 17 thousand dollars to prevent money laundering, Reuters I mentioned.
The country of Han in South Korea is also a stranger to fraud in investing in the coded currency in millions of dollars. Less than a year ago, the South Korea police arrested more than 200 people to steal more than $ 228 million in a coding fraud that has been considered since then. The largest in the country’s history.
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