South Korean Crypto Kingpin Busted in Thailand: Massive 1.65 Billion Baht Gold Laundering Scheme Exposed!

Arrest at Suvarnabhumi Airport

Police officers from the Technology Crime Suppression Division (TCSD) arrested Han, a 33-year-old South Korean national, at Suvarnabhumi Airport on Saturday. He was apprehended under an arrest warrant issued by the Criminal Court on February 6, 2025, on charges including fraud, impersonation by entering false data into a computer system, money laundering, and involvement in a criminal syndicate.

Investigation into Call Centre Scam

The arrest stems from an investigation that began in February 2024 into a call centre scam. Victims were lured with promises of high returns of 30%-50% on investments for extra income. Initially, small returns were paid out to build trust, but as victims invested larger sums, they were blocked from withdrawing funds, with scammers falsely claiming procedural errors.

Aftermath and Additional Arrests

After realizing the scam, victims reported it to the TCSD, leading to the arrest of 10 suspects in total. This includes five individuals who handled money laundering for the gang and five 'mule' account holders who facilitated the illicit transactions. The operation involved converting cryptocurrency into gold, with a total value exceeding 1.65 billion baht.