Thai and Chinese authorities froze $2.5M in crypto linked to two Chinese nationals accused of scams and human trafficking.
Both Thai and Chinese officials have frozen $2.5 million in cryptocurrency assets linked to Ye Wanyou (29), and Li Weijie (30), two Chinese people who are suspected of running scams.
Thailand’s Huamark Police Station and the Police Cyber Taskforce (PCT) carried out the operation on February 5. They caught them at a fancy home and took $44,550 worth of goods.
With help from the Chinese police, agents found hidden cryptocurrency wallets with about 2.5 million USDT (Tether), which is worth 84 million baht.
The suspects may also be involved in kidnapping people near Mae Sot, Thailand, and selling fake goods inside the country, possibly with ties to activities in Phnom Penh, Cambodia.
The Thai government has charged the suspects with public theft and is against their bail request. The case shows that countries around the world are working together more to stop crypto-related scams. Further investigations into the syndicate’s activities are likely to reveal more information about how they operated.
