A global task force led by the FBI has arrested 276 suspects and dismantled nine cryptocurrency scam compounds that targeted Americans.
Cross-Border Crackdown
The U.S. Department of Justice announced the operation Wednesday, citing cooperation with Dubai Police, China's Ministry of Public Security and Thailand's Royal Thai Police.
Dubai authorities accounted for 275 of the arrests. The Royal Thai Police detained one additional suspect. Six defendants now face wire fraud and money laundering charges in the Southern District of California.
Court records name Thet Min Nyi, a 27-year-old Burmese national, alongside Indonesian nationals Wiliang Awang, 23, Andreas Chandra, 29, and Lisa Mariam, 29, plus two fugitives. Prosecutors tied them to entities called Ko Thet Company, Sanduo Group and Giant Company.
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Pig-Butchering Pattern
Officials said the scammers cultivated trust with victims through fake friendships or romance before pushing them into bogus crypto investments, with funds laundered through additional wallets.
"Scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world," Assistant Attorney General A. Tysen Duva said.
Investigators have tied millions of dollars in confirmed losses to the schemes. The action follows the FBI's broader Operation Level Up effort, which has flagged nearly 9,000 victims and prevented an estimated $562 million in losses as of April 2026. Earlier this month, the bureau reported that crypto-related fraud reached a record $11.3 billion in 2025, more than half of all internet crime losses tracked nationwide.
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