Two Chinese citizens arrested in Thailand for cryptocurrency fraud, involved amount close to 18 million dollars

2025-03-24 19:49:15

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ChainCatcher news, according to Cryptonews, Thai police have arrested two Chinese citizens suspected of cryptocurrency fraud and kidnapping. The police arrested 27-year-old Wu Di (phonetic) and her boyfriend 29-year-old Zhou Zongyong (phonetic) at a luxury villa in Pattaya.

Investigations show that Wu Di lured victims to invest in a fictitious Singapore dollar investment fund through Facebook, defrauding over 600 million Thai baht (approximately 17.7 million USD) in just the past two months. The scammers used "puppet accounts" to temporarily hold the funds, which were then converted to USDT through P2P transactions on Binance and other Thai digital asset exchanges, before being transferred to Wu Di's digital wallet registered in Cambodia.

Police also discovered that Zhou Zongyong was involved in the kidnapping of a Chinese woman in Cambodia and demanded a ransom; the woman is currently still missing. Thai police stated that the couple will first undergo legal proceedings in Thailand and will then be handed over to Chinese authorities for prosecution under Chinese law.

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