US, UAE, and Chinese law enforcement have shut down several cryptocurrency scam operations that defrauded American citizens out of millions of dollars. These scams, known as ‘pig butchering,’ involve building relationships with victims online before stealing their money.
276 Arrested, 6 Indicted In Global Crackdown
The US Justice Department revealed on Wednesday that a unique partnership between the FBI, Dubai police, and Chinese authorities successfully shut down at least nine cryptocurrency scam operations that were defrauding Americans.
The FBI recently announced that people in the US lost a total of $11.4 billion to cryptocurrency scams in 2025, a 22% jump from the previous year. According to Bitcoinist, the most common types of scams were phishing attacks, extortion, and fraudulent investment opportunities. Sadly, older Americans were hit particularly hard, accounting for around $7.7 billion of the total losses.
Last week, police in Dubai, working with the UAE Ministry of Interior, arrested 275 people. Among those arrested were three individuals facing federal charges in California for wire fraud and money laundering. In addition, Thai police arrested one more person, bringing the total number of arrests to 276.
The Department of Justice has charged Thet Min Nyi, Wiliang Awang, Andreas Chandra, Lisa Mariam, and two other individuals who are still at large with federal crimes related to fraud and money laundering. If found guilty, they each could face up to 20 years in prison.
In March, a federal grand jury in Southern California charged Thet Min Nyi and another individual, who is still at large, with wire fraud, conspiring to launder money, and attempting to illegally seize assets.
In April 2026, Awang, Chandra, a fellow suspect still at large, and Mariam faced wire fraud conspiracy charges. These charges stemmed from their alleged involvement in fraudulent cryptocurrency investment schemes run by two groups, Sanduo Group and Giant Company.
U.S. Attorney Adam Gordon of the Southern District of California stated that these criminals believed their distance would protect them. However, he emphasized that times have changed, and international criminal activity will now be met with international legal action.
According to A. Tysen Duva, a top official with the Justice Department, today’s charges and arrests demonstrate a global agreement that scam centers are not tolerated and need to be eliminated.
Those who run scam centers and commit fraud against Americans and people worldwide will be held accountable in courts both in the United States and internationally. Because fraud doesn’t respect borders, law enforcement efforts to stop it must also be global, he explained.
Crypto Pig-Butchering Centers Busted
As a researcher, I’ve been following a case that began in 2025 when the FBI in San Diego started investigating a series of cryptocurrency investment scams. Our investigation revealed six individuals who were running, working at, and staffing three companies that were operating these scam centers. We found they weren’t just involved themselves, but were actively recruiting others to participate in the fraud.
The charges and court documents show the defendants allegedly used deceptive tactics to commit cryptocurrency fraud. They built trust with victims before taking their money in schemes known as “pit-butchering.”
According to the Department of Justice, the accused fraudsters built relationships with people in the U.S. and other countries to gain their trust. They then convinced these victims to invest in cryptocurrencies, helping them create accounts and move funds to platforms that were actually fake, without the victims knowing.
The scammers convinced victims to invest even more money by falsely claiming they were already earning profits from these fake cryptocurrency investments. They went so far as to encourage people to borrow from loved ones or get loans to invest further.
The FBI has found many victims across the US who reported scams through its Internet Crime Complaint Center (IC3). By reviewing these reports and tracking cryptocurrency transactions, investigators discovered that these investment schemes have caused millions of dollars in losses.
Working alongside international partners, Dubai Police assisted in shutting down the fraudulent scheme, according to the Department of Justice. This collaboration is part of a broader effort to find and eliminate criminal organizations that operate across borders.
The statement also highlighted the help provided by the Royal Thai Police Immigration Bureau, the Ministry of Foreign Affairs, the Anti-Cyber Scam Center, and Meta Platforms during the investigation.
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2026-05-01 14:28