S. Department of Justice (DoJ) Archives

U.S. authorities announced a large crypto fraud case on April 29, 2026, after investigators linked scam centers overseas to fake investment platforms aimed at Americans. Good to Know Authorities arrested at least 276 people and took down at least nine alleged scam centers. Prosecutors said the groups used fake crypto investment sites, online trust-building, and fast laundering. The charges include wire fraud conspiracy and money laundering conspiracy, each carrying up to 20 years in prison. Fake Crypto Platforms Sat At The Center Of The Case The biggest arrest count came from Dubai. Authorities there arrested 275 people, including three defendants charged in San Diego. Thailand Royal Thai Police arrested another defendant. The San Diego cases name Thet Min Nyi, Wiliang Awang, Andreas Chandra, Lisa Mariam, and two fugitives. Prosecutors also tied the alleged activity to Ko Thet Company, Sanduo Group, and Giant Company. The DOJ described the case as a rare joint effort across several countries. It said: “Unprecedented cooperation between the FBI, Dubai Police Department, and Chinese Ministry of Public Security has resulted in the arrest of at least 276 individuals and the dismantlement of at least nine scam centers used for cryptocurrency investment fraud schemes.” “These centers targeted Americans who have suffered millions of dollars in losses from such schemes,” the DOJ added. Prosecutors said the scam centers used “pig-butchering,” a fraud method where criminals build fake friendships or romances before pushing victims into bogus investments. Victims then opened accounts, sent crypto, borrowed money, took loans, and added more funds after seeing fake platform balances. The DOJ said the platforms only looked real. It explained: “Fake platforms put the victims’ funds in the hands of the scammers, who then laundered the victims’ funds to other cryptocurrency accounts, including their own.” FBI San Diego opened the investigation in 2025 after tracing companies and people connected to scam compounds. Investigators used FBI Internet Crime Complaint Center reports, victim interviews, financial records, and information from Meta Platforms, Inc., the parent company of Facebook and Instagram. The defendants allegedly worked as managers, recruiters, or staff inside the operations. Prosecutors say the groups caused millions of dollars in losses and moved funds across crypto accounts before victims could recover them. Each wire fraud conspiracy and money laundering conspiracy count carries a maximum prison term of 20 years. Fines can reach $250,000, $500,000, or twice the gain or loss, depending on the charge. Prosecutors also filed criminal forfeiture allegations against Thet Min Nyi and a fugitive co-defendant. The case involved the FBI, Dubai Police, China Ministry of Public Security, Thailand Royal Thai Police, and other partners. It also follows FBI San Diego work under Operation Level Up, which had warned almost 9,000 victims and saved an estimated $562 million by April 2026.

S. Department of Justice (DoJ)

US And Dubai Arrest 276 In Crypto Scam Center Case

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