Report Cambodian Crypto Firm Linked to Scams Targeting Thais

[snoop1130]

Photo courtesy of Post Today

 

A Cambodian cryptocurrency company, Huione Group, is at the centre of alleged online scams and gambling operations preying on Thai citizens, according to Thailand’s Cyber Crime Investigation Bureau (CCIB).

 

Police Lieutenant General Trairong Phiewphan, head of the CCIB, highlighted Huione Group as a key player in dubious financial transfers linked to criminal networks. The firm operates from a border zone in Cambodia, raising suspicions due to its strategic location.

 

Trairong explained that funds stolen from victims' bank accounts are moved to mule accounts, converted into cryptocurrency, and then either laundered into cash or used for asset purchases. Despite being legally registered, the company's location near the Thai-Cambodian border makes it a hotspot for scams.

 

“Many cybercrime cases trace back to this firm,” said Trairong, though no confirmed connections to Cambodia’s influential Hun family have been found despite media rumours.

 

The alert comes amid rising cybercrime targeting Thais, with scams and gambling rackets exploiting cryptocurrency to obscure financial trails and facilitate rapid cross-border fund movements.

 

In May, the US Treasury’s Financial Crimes Enforcement Network (FinCEN) designated Huione Group as a “critical node” in regional criminal activities, citing its role in "pig butchering" scams. These frauds manipulate victims into fake relationships or investments, ultimately draining their savings.

 

Trairong urged public caution online, cautioning that seemingly innocuous online interactions might be part of larger traps. “People need to be very cautious,” he warned.

 

The CCIB continues its probe, collaborating with international agencies to track the flow of digital currency.

 

As cross-border scams grow more sophisticated, Thai authorities acknowledge that the fight against cybercrime is ongoing, with efforts intensifying to protect citizens from these evolving threats.

 

  Adapted by ASEAN Now from The Thaiger 2025-06-18

 

 

[Enzian]

The Thai cyber police specialists are doing important work, but also needed is more public awareness campaigns to educate the populate about things online to absolutely avoid. Not to be Thai-bashing, but there's a certain element of those in influence which seeks to keep the mass of citizens uneducated and naive, and I don't doubt that that leads to some of the bad outcomes we keep hearing about.