A large international law enforcement operation has resulted in at least 276 arrests linked to cryptocurrency fraud schemes. Authorities from multiple countries worked together to shut down scam centers that targeted victims, mainly in the United States.
The operation was led by officials in Dubai under the United Arab Emirates Ministry of Interior. These teams dismantled at least nine scam centers used to run organized fraud operations. These centers were designed to trick people into sending money through fake cryptocurrency investments.
Several individuals accused of managing and recruiting workers for these scam networks are now facing charges in San Diego. These include Thet Min Nyi, Wiliang Awang, Andreas Chandra, and Lisa Mariam.
Dubai authorities arrested several suspects, while Thai police captured one key accused. The arrests show how these scam networks operate across borders, making global cooperation necessary to stop them.
Officials explained that these groups often run operations in one country while targeting victims in another. This makes investigations more complex and requires coordination between agencies worldwide.
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How the Scam Worked and Who Was Involved
The scam centers used a method known as “pig-butchering.” In this type of fraud, scammers slowly build trust with victims. They often pretend to form friendships or romantic relationships.
Once trust is gained, victims are encouraged to invest in cryptocurrency platforms that appear legitimate. Scammers guide them through the process and show fake profits to gain confidence. Victims are sometimes urged to borrow money or take loans to invest more.
After the money is sent, victims lose control of their funds. The scammers then move the money through multiple cryptocurrency accounts to hide its origin.
Investigators found that the accused worked through different front companies. These included “Ko Thet Company,” “Sanduo Group,” and “Giant Company.” These names were used to run scam operations and manage workers.
According to investigators, Thet Min Nyi was linked to managing scam compounds. Wiliang Awang, Andreas Chandra, and Lisa Mariam were connected to operations under other groups.
Authorities said the accused helped recruit workers, communicate with victims, and handle stolen funds. Many victims were based in the United States and reported losses through official complaint systems. Investigators have already identified millions of dollars in losses.
Investigation Efforts and Law Enforcement Action
The investigation began in 2025 when agents from the Federal Bureau of Investigation identified suspicious cryptocurrency activities. A task force was formed to examine the operations and track those involved.
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Agents interviewed victims and reviewed financial and cryptocurrency records. This helped uncover how the scams were carried out and how funds were moved.
The suspects are facing charges including wire fraud conspiracy and money laundering. These offenses carry penalties of up to 20 years in prison, along with heavy fines.
International cooperation played a key role. Thai authorities helped arrest Wiliang Awang, showing the importance of cross-border action in tackling such crimes.
Private sector support also assisted the case. Meta Platforms, Inc. provided information that helped investigators understand how scammers operated online.
Authorities also highlighted a related initiative called Operation Level Up. Since 2024, it has alerted nearly 9,000 victims and prevented losses estimated at $562 million.
Officials confirmed that investigations into other scam networks are ongoing. Victims are encouraged to report fraud through the FBI Internet Crime Complaint Center, which helps authorities track and act against such crimes.
The case reflects the growing scale of organized financial fraud and the increasing use of global cooperation to disrupt these networks.