South Korean Man Arrested in $50 Million Crypto Scam

A South Korean man was arrested on Saturday, accusing more than $ 1 million cryptocurrency laundering in a physical gold bar in just three months.

This person, identified as “Han” only by the Thai authority, was the main personality of a call-centers fraud network that was tempted by the victims with a promise of 30-50% return in investment. Authorities say that the victims were initially paid to make confidence before starting to face the limits of withdrawal.

Meanwhile, Han is alleged to have collected 47.3 million, a stabbin was tied to US $. He complains that digital funds have used to buy gold bars, each weighing more than 10 kg or 22 pounds, the value of each transaction is over $ 1 million.

Police said the gold bars were used to convert illegal crypto funds to a clear product that scammers could cross the border without detection.

After the victims started filed by the Thai Criminal Court, Han and his staff issued an arrest warrant in February. Eleven people including Han have been arrested in connection with this scandal, said Thai mediaThe

Thai police have been arrested at Bangkok’s Suvarbhumi Airport and charging him to participate in fraud, disguise, computer crime, money laundering and participation in a criminal syndicate.

The worldwide loser completely lost 10.7 billion dollars from Crypto scandal In 2024, according to the blockchain intelligence agency TRM Labs data. The report shows that the global crypto scandal has increased by 456% overall compared to last year. Experts advise to use people Warning Cryptocurrency or even in their procedure to avoid it perfectly.

Crypto has a turbochaged inter -border scandal, especially in Crypto: Crypto transactions are borderless, instant and anonymous nature simplify these criminal activities, while these agreements prevent the general regulator of other inter -bound financial transactions.

Thailand is holding the big bet on Crypto

The news also comes because the Thai government has made a huge bet on Crypto in the hope of rebuilding its tourism industry.

Earlier this week, Thailand announced an 18-month pilot program that allowed tourists to convert Crypto to local businesses through local currency, Thai-based crypto exchange platform.

The Thai Finance Ministry says they will be caping the conversion to the 550,000 butt, about 17 thousand to prevent money laundering, Reuters Report

Han’s homeland South Korean country is not a stranger for the scandal of many million dollars of cryptocurrency investment. Just less than a year ago, South Korean police have arrested more than 200 people for stealing more than $ 228 million in the Crypto scandal The largest in the history of the countryThe