The post FBI, Thai Police Seize $580M in Crypto Scam Crackdown appeared first on Coinpedia Fintech News

In a major international law-enforcement operation, the FBI and Royal Thai Police raided scam compounds in Thailand, seizing more than 8,000 phones, 1,300 hard drives, and freezing $580 million in cryptocurrency linked to frauds targeting U.S. victims. These compounds, also located in Myanmar, Cambodia, and Laos, forced trafficked workers to run “pig butchering” scams that lure people with fake relationships or investment advice before stealing their money. A joint task force has arrested 21 suspects, and FBI agents are now in Thailand tracing blockchain transactions to break up the entire network rather than just individual scammers.