Binance, the world’s leading blockchain ecosystem and digital asset infrastructure provider, recently assisted the Royal Thai Police in two major operations to dismantle criminal networks engaged in crypto scams. In the first operation, codenamed ‘Trust No One’, Binance’s Investigations team worked closely with the U.S. Homeland Security Investigation (HSI) and the Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police to target a criminal ring behind a ‘pig butchering’ scam. This hybrid investment-romance fraud targets novice investors by cultivating trust with victims, drawing them into fraudulent investment platforms, and then displaying fictitious profits to induce further investments. The collaboration resulted in the arrest of five key members of this criminal enterprise and the confiscating of assets valued at around THB 10 billion ($277M). Over 3,200 victims have since sought compensation. In a separate operation, Binance also helped unravel a large-scale crypto fraud orchestrated by a vast network of transnational entities. The probe led to the arrests of numerous suspects across various Thai provinces, like Bangkok, Samut Prakan, and Udon Thani, with the assistance of over 200 Central Investigation Bureau (CIB) officers. The seizure of ill-gotten assets, including luxury residences, top-tier vehicles, and cash, was made possible through Binance’s crucial intelligence. Binance’s Head of Financial Crime Compliance, Tigran Gambaryan, stated that their team-up with Thai law enforcement champions their mutual commitment to the protection of users and the advancement of cybersecurity. Binance has fulfilled and assisted in over 103,000 law enforcement requests in the past three years, demonstrating their commitment to promoting a safer and trustworthy digital-asset ecosystem.

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Information	Details
Geography	Asia
Countries	🇹🇭 🇺🇸
Sentiment	positive
Relevance Score	8
People	Thanatus Kangruambutr, Tigran Gambaryan
Companies	Central Investigation Bureau (CIB), Cyber Crime Investigation Bureau (CCIB), Royal Thai Police, Binance, U.S. Homeland Security Investigation (HSI)
Currencies	None
Securities	None