webfact Posted February 19, 2019 Share Posted February 19, 2019 Victims in Bitcoin swindle go to Thai tech police Picture: Daily News Some 30 representatives of a group of 140 victims yesterday went to file a complaint with Thailand's tech police after they lost 42 million baht in a Bitcoin swindle. The complainants invested in the crypto-currency through a website called "cryptominingfarm" run by Lifetime Technology Co Ltd and its owner Phimongkhon Thaophiban. Some investors put in as little as 1,000 baht - others invested millions. One of them was actor Johnson Thewin who said he had done legitimate Bitcoin investments before and believed the company as they had offices in Muang Thong Thani and Chiang Mai. After getting good returns he invested more then lost it all. It slowly dawned on the investors that they had been conned through the middle of last year. Thailand's tech police arm are investigating after the complainants went to the national police HQ in Bangkok on Monday. Source: Daily News -- © Copyright Thai Visa News 2019-02-19 Link to comment Share on other sites More sharing options...
RotBenz8888 Posted February 19, 2019 Share Posted February 19, 2019 10 minutes ago, webfact said: After getting good returns he invested more then lost it all. Makes me think about Las Vegas. Link to comment Share on other sites More sharing options...
worgeordie Posted February 19, 2019 Share Posted February 19, 2019 12 minutes ago, webfact said: After getting good returns he invested more then lost it all. That's scammers modus operandi.investors need to do better due diligence,believing that they are a legit company, because they had offices in Muang Thong Thani and Chiang Mai, wonder if anyone ever went to check these offices out. regards worgeordie Link to comment Share on other sites More sharing options...
dcnx Posted February 19, 2019 Share Posted February 19, 2019 This can’t be accurate. Thais don’t scam Thais. It’s the foreigners who are scammers. Link to comment Share on other sites More sharing options...
bluesofa Posted February 19, 2019 Share Posted February 19, 2019 4 hours ago, webfact said: t slowly dawned on the investors that they had been conned through the middle of last year. While not condoning the scam, it always seems down to greed, spurred on by a promise of too good a return on investment. I'm sure someone will say I'm comparing apples with oranges: If someone lends money freely and is then unable to get it repaid, here the police have always seen it as something they're powerless to act over - usually when it involves a ferang lending to a Thai. What is the difference here, they weren't coerced into 'investing' their money, it was done of free will. Perhaps the only difference is the website claimed high rates of return? Link to comment Share on other sites More sharing options...
Justgrazing Posted February 19, 2019 Share Posted February 19, 2019 4 hours ago, webfact said: After getting good returns he invested more then lost it all. Sounds a little bit-ter there .. Link to comment Share on other sites More sharing options...
bluesofa Posted February 19, 2019 Share Posted February 19, 2019 9 minutes ago, Justgrazing said: 4 hours ago, webfact said: After getting good returns he invested more then lost it all. Sounds a little bit-ter there .. Isn't that in the scam world known as 'the long game'? Enticing a sucker in with good returns on a small investment, then going for the sting, by relying on the 'mark's' greed to make a much larger investment. Link to comment Share on other sites More sharing options...
Happy Grumpy Posted February 19, 2019 Share Posted February 19, 2019 4 hours ago, webfact said: lost it all. It slowly dawned on the investors that they had been conned through the middle of last year. It just sounds like bitcoin, without any scammer involved. Link to comment Share on other sites More sharing options...
Justgrazing Posted February 19, 2019 Share Posted February 19, 2019 11 minutes ago, bluesofa said: then going for the sting, Hahahaha .. Yeah the one's who don't get " bitten " first time around get " stung " going back for some more .. Link to comment Share on other sites More sharing options...
Skeptic7 Posted February 19, 2019 Share Posted February 19, 2019 Wasn't aware Thailand had any tech...so much as Tech Police! Link to comment Share on other sites More sharing options...
clokwise Posted February 19, 2019 Share Posted February 19, 2019 I don't know the details of this scam, but my wife has recently had a couple friends scammed by people who preyed on people who had no clue what bitcoin actually is (which is probably most people) - they were just using the "bitcoin" buzzword to front a typical pyramid scheme. Link to comment Share on other sites More sharing options...
BigT73 Posted February 19, 2019 Share Posted February 19, 2019 Theres always the small chance this wasnt a scam. Bitcoin (btc/usd) went from approx 18000bht to 3000bht a share over the course of the year. Everybody was touting a bounceback even on TVF. Link to comment Share on other sites More sharing options...
Kasset Tak Posted February 19, 2019 Share Posted February 19, 2019 1 hour ago, Skeptic7 said: Wasn't aware Thailand had any tech...so much as Tech Police! The Cyber Crime police have their office close to immigration at Changwattana (I think it's 1 or 2 floors above immigration 1). Link to comment Share on other sites More sharing options...
lamyai3 Posted February 19, 2019 Share Posted February 19, 2019 18 hours ago, webfact said: Thailand's tech police Putting both the ox and the moron in oxymoron... Link to comment Share on other sites More sharing options...
LomSak27 Posted February 19, 2019 Share Posted February 19, 2019 19 hours ago, RotBenz8888 said: 19 hours ago, webfact said: After getting good returns he invested more then lost it all. Makes me think about Las Vegas. More a classic Ponzi, He probably got other investors into the game, based on his score. Then after they banged up their baht too, wooosh, the rug gets yanked out from under their collective feet. Link to comment Share on other sites More sharing options...
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