Thai officials have detained a South Korean individual charged with aiding a call center gang in laundering cryptocurrencies into gold valued at over $50 million.
The Technology Crime Suppression Division (TCSD) reported that authorities arrested Han, 33, at Bangkok’s Suvarnabhumi Airport on Saturday based on a warrant issued in February, as stated in a report by The Nation. He faces allegations of fraud, computer crimes, money laundering, and participation in a criminal syndicate.
The case originates from a significant call center scam that began in early 2024. Victims were drawn into “investment opportunities” that promised returns of 30%–50%. Initial payouts created an illusion of safety, but as deposits increased, withdrawals were denied on claims of unmet requirements.
Multiple complaints eventually reached the TCSD, prompting an investigation that has already resulted in the detention of ten suspects, which includes five alleged money launderers and five individuals managing mule accounts.
Thai authorities arrest Korean individual in crypto money laundering operation. Source: Bangkok Post
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Thai authorities confiscate cryptocurrency accounts
Investigators tracked Han’s arrival in Thailand and collaborated with the Immigration Bureau to apprehend him at the airport checkpoint. His mobile device, which contained numerous crypto accounts linked to the laundering network, was confiscated.
The report indicates that Han previously studied in China before joining a South Korean firm that transformed cryptocurrencies into gold bars for the scam network. He allegedly managed crypto accounts that received funds from victims, which were then utilized to purchase gold from international suppliers before being sent back to the syndicate.
Authorities estimate that from January to March 2024, Han’s accounts handled approximately 47.3 million USDt (USDT), channeled into gold. Each laundering cycle reportedly involved over 10 kilograms of gold, valued at around $1 million for each transaction.
Han has contested parts of the allegations but remains in custody as Thai authorities continue to investigate the broader operation.
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Taiwan indicts 14 in cryptocurrency laundering scheme
Prosecutors in Taiwan have indicted 14 individuals in what they label the country’s largest cryptocurrency money laundering case, involving over 1,500 victims and more than $70 million in illegal proceeds.
The Shilin District Prosecutor’s Office has filed charges for fraud, money laundering, and organized crime, seeking to confiscate nearly $40 million in illicitly acquired assets.
Authorities also requested the confiscation of 640,000 USDt, undisclosed amounts of Bitcoin (BTC) and Tron (TRX), over $1.8 million in cash, two luxury vehicles, and $3.13 million in frozen bank accounts.
Prosecutors indicated that the group laundered the funds by converting cash into foreign currency and then purchasing USDt through the local exchange BiXiang Technology before transferring the assets abroad.
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