Chinese Fraudsters Rob Fellow Citizens of 13M Baht in Bangkok Crypto Scam

[webfact]

The victim files a complaint at Huai Khwang police station. Photo: Amarin TV

 

In a bold and audacious heist reminiscent of a thriller, three Chinese nationals were left reeling after being defrauded of a whopping 13 million Baht in a cryptocurrency exchange scam in Bangkok. The incidents, which appear intricately planned, unfolded on Thursday as the victims attempted legitimate currency-for-crypto exchanges.

 

The first incident took place in Huai Khwang district, at a house on Pracharat Bampen 12 Road, around 3:30 p.m. According to Pol Col Prasopchok Iampinit, the head of the Huai Khwang police station, a Chinese man named Huang Guang was duped by three fellow countrymen.

 

Huang reported that his bag, loaded with 5 million Baht, was snatched during what was supposed to be a straightforward cash-for-crypto swap. As the criminals fled in a Toyota Alphard van, Huang made a valiant attempt to pursue them using a local motorcycle taxi, but his efforts were in vain.

 

The investigation revealed that the van belonged to Zhenkun Cai, who resided on Yenjit Road in the Sathon district. In a significant breakthrough, the police managed to recover the stolen 5 million Baht from his residence.

In a parallel plot that occurred almost simultaneously, two other Chinese victims were embroiled in a similar fraudulent scheme at the G Tower building in the bustling Phraram 9 area. The duo carried 8 million Baht in cash to exchange for cryptocurrency with a group of four compatriots.

 

In these transactions, a middleman had been introduced, ostensibly to facilitate the exchange. However, the meeting turned sour when the group of four, under a thin veneer of legitimacy, seized the cash claiming they had transferred cryptocurrency to the middleman. Confusion and disbelief ensued as the middleman denied receiving any digital currency, leading the cheated parties to file their complaints at the Huai Khwang police station.

 

The episodes highlight a growing trend of deception involving cryptocurrencies, a space rife with both potential and pitfalls. While blockchain-based currencies promise anonymity and speed, they also attract those with nefarious intentions, exploiting legal and technical grey areas.

 

Authorities have urged vigilance while dealing with such transactions and stressed the importance of using trusted and verified exchange platforms. Meanwhile, investigations continue into these brazen thefts, as police collect evidence and track down the culprits involved, reported Amarin TV..

 

 

-- 2025-01-10

 

 

[gargamon]

I really need to get into this crypto stuff. I could be making so much money.

[Jim Blue]

My dad used to be a miner so perhaps I should have a go !

[Emdog]

All crypto is a scam: they are backed by nothing tangible; there is no "there" there.

[Woke to Sounds of Horking]

Unlike real world 3D companies there is nothing backing up craptocurrencies but a bunch of hard drives whirring around air conditioned rooms.

 

Throw the book at these creeps quality tourists.

[Woke to Sounds of Horking]

 

[jippytum]

 These Chineese gansters seem to thankfully prey on their own people. 

Says a lot about the lack of Thai police enforcement so many take a chance to ply their evil trade here and not China. 

[Iron Tongue]

Boo hoo.

Criminals preying on criminals.

These Chinese nationals were ripped-off during their attempt to launder Thai baht into crypto.  

[Hakuna Matata]

37 minutes ago, Woke to Sounds of Horking said:

Unlike real world 3D companies there is nothing backing up craptocurrencies but a bunch of hard drives whirring around air conditioned rooms.

 

Throw the book at these creeps quality tourists.

 

Stricter visa rules are required!

 

 

[Tropicalevo]

8 hours ago, webfact said:

In a significant breakthrough, the police managed to recover the stolen 5 million Baht from his residence.

Well done to the BIBs

[worgeordie]

No mention of any arrests of criminals when the 5 Million was recovered ,

I think the Chinese tax man will be interested in these folks if the return

to China .... 

 

regards worgeordie

[hotchilli]

8 hours ago, gargamon said:

I really need to get into this crypto stuff. I could be making so much money.

I got mine in my arse pocket where I know it's safe.

[ronster]

Chinese and Russians are having a field day lately with crypto 🤣