Singaporean national arrested in Thailand over alleged links to crypto scam

A Singaporean national has been arrested in Thailand over suspected involvement in crypto scam activities that cheated investors out of over THB22.4 million ($657,700).

According to the Straits Times, the man was part of a ring which created a fake app that resembled the Tidex digital crypto trading platform.
The ring offered high investment returns, ensnaring numerous victims with at least 17 fund transfers recorded without any actual investments made.
The 32-year-old is suspected of opening digital wallets to store the proceeds from victims.
The Singaporean national’s arrest comes after police operations netted 13 members of the transnational syndicate across four Thai provinces: Bangkok, Chiang Rai, Rayong and Phuket.
Among those arrested were two supposed ringleaders, a 29-year-old Chinese national and a 38-year-old Thai man.
According to Thai police, the group was linked to the Lock Star gang, which operated call center scams. Six of the group’s members were arrested in July, including two Chinese nationals a four Thai nationals.
Assets seized by police include land deeds, a luxury house and cars worth more than THB14 million ($411,000).

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