According to the U.S. Department of Justice, an FBI-led global task force arrested 276 suspects and disrupted nine crypto scam centers on Wednesday. Dubai police arrested 275 individuals, with three charged in California on wire fraud and money laundering counts. Thai authorities also arrested one suspect. The investigation targeted international fraud rings operating Ko Thet Company, Sanduo Group, and Giant Company, which functioned as scam centers.
Scammers recruited victims by promoting fictitious crypto investment returns, then funneled funds through fraudulent platforms and laundered proceeds via crypto wallets. Authorities identified millions of dollars in losses linked to these cross-border schemes. The takedown reflects rising crypto-related fraud, which hit a record $11.3 billion in losses last year.
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