The Thai authorities have dismantled a $ 15 million scam ring accused of targeting more than 870 South Koreans thanks to an elaborate network of crypto, romance and false lottery diagrams.
The main dishes to remember:
- Thai and South Korean police arrested 33 members of a $ 15 million scam ring aimed at more than 870 South Koreans.
- The group used a mixture of cryptographic fraud, romantic scams and false lottery regimes to deceive the victims.
- The funds were bleached by prepaid cards, over-the-counter brokers and coordinated micro-transactions via encrypted applications.
The group, operating under the name of “Lungo Company”, was described by investigators as a rare example of “multilayer whitening” which mixed several forms of fraud to obscure its track.
Thai Seoul and Thai police stop 33 in the repression of the cross -border cryptographic scam
Metropolitan Seoul police announced the arrest of 25 suspects linked to the group, while Thai police have apprehended the leader and eight basic members.
All nine are currently in detention in Thailand and awaiting extradition to South Korea.
Unlike previous fraud operations which generally used a single method, Lungo Company used a wide range of tactics.
The victims were led to send funds via false remuneration offers for data violations, Romanesque scams or by being led to invest in valuable cryptocurrencies through fraudulent platforms.
“This group used several tactics systematically,” said a police official. “It was not a one -dimensional scam – it was structured and superimposed.”
The group’s money laundering book also included prepaid cards, casino-outs and micro-Amont division transactions to escape detection systems.
For the final liquidation, they relied on over-the-counter broker at high volume through Southeast Asia, coordinated by figures like Telegram and WeChat.
The case comes from weeks after the Seoul police dismantled another international cybercrime ring that stole $ 28.1 million with the South Korean elites, including celebrities and managers, hiding financial and cryptographic accounts.
Hack Lubian of $ 3.5 billion revealed as the largest Bitcoin ever confirmed
A previously unknown hack of December 2020 has now been confirmed as the largest cryptographic flight of all time, with 127,426 BTC, worth $ 3.5 billion at the time and almost $ 14.5 billion today, stolen from the Chinese pool of the Lubian mining pool.
The violation, discovered by Arkham Intelligence, exploited the weaknesses of the generation system of private keys to Lubian.
Lubian had quickly emerged in 2020 as one of the best Bitcoin mining swimming pools, making the mark as a safe and high yield platform.
At the beginning of 2021, the swimming pool disappeared without explanation, leading to speculation of regulatory closure or privatization. Arkham’s results indicate a dramatic hack as a cause.
The majority of the Lubian BTC, more than 90%, was drained in a single day, followed by additional losses the next day via Bitcoin and USDT transfers on the OMNI layer.
The stolen parts have been dormant since July 2024. Lubian tried to contact the thief via the Op_return function of Bitcoin, offering a reward.
While the collapse of the MT. Gox involved more BTC in total, the Lubian incident marks the greatest robbery of confirmed crypto in terms of value at the time it occurred. The attacker’s identity remains unknown and stolen assets have not yet surfaced.
The Thai police station destroys $ 15 million dollars in a scam ring targeting the Koreans in crypto, romance, lottery fraud appeared first on Cryptonews.
