The Thai Cyber Police initiated a large-scale search for cryptocurrency criminals involved in a global scam worth billions of dollars. The second phase of this operation was a dramatic search for premium Bangkok houses. It revealed disturbing details regarding a Chinese couple’s involvement in fraudulent activities.
The Cyber Police orchestrated the second phase of the inquiry under strong leadership. A task force was deployed to eleven locations in Bangkok, Samut Prakan, and Chon Buri. The main goal of these activities was to find critical evidence connected to the crypto hoax.
The team’s raid on a wealthy 37-story condominium in Bangkok’s Sathorn area was a notable event during the operation. It is estimated to be worth approximately $3,635,693. This luxurious mansion belonged to Abin Ye, Keyi Ye’s husband, also known as Ki Yee Ye. The pair, both of Chinese nationality, were the prime suspects in the cryptocurrency fraud case. They were previously seized after an arrest warrant was issued for their involvement on May 26.
NEWS: 🇹🇭🔍Thai Police raid luxury properties in #Bangkok as part of 'Trust No One' operation, uncovering cryptocurrency fraudsters.
— Walletor (@walletorapp) June 27, 2023
Interpol has labeled Abin Ye an international fugitive after he was accused of defrauding citizens out of more than 180 million yuan. Several critical documents and technological equipment were discovered during the raid on the Sathorn condo. All of these items were taken as evidence for future investigation from blockchain specialists.
Additionally, numerous more opulent residences worth 60 to 80 million baht were raided. These properties were allegedly purchased under the guise of Chinese-funded corporations. As part of the judicial process, the police confiscated these assets.
All in all, this operation expands on the mission’s original phase, which comprised the search for six locations in the local district. During that time, two Chinese suspects were apprehended: Saosian Zhu and Ki Yi Yee. These cryptocurrency suspects allegedly utilized bogus social media personas to entice victims into investing in bogus trading platforms. This has resulted in a loss of more than 35 million baht.
A formal announcement outlining the outcomes of the Cyber Police operation is scheduled for later today at the local police station where the case development will be addressed. Additionally, you can learn how to stay safe while trading crypto in our article.