Pictures courtesy of Khaosod - arrested suspect Alex.

 

A retired Australian police officer has praised Thai police after they arrested a German national accused of swindling him and his Thai wife out of more than $1.1 million in a cryptocurrency scam.

 

Michael 65, expressed his gratitude at Udon Thani City Police Station on 2 August, thanking officers in Thai and presenting flowers to Police Lieutenant Colonel Pattanawong Janphon. “I’m very happy. The police are excellent,” he said.

Picture of the victims.

 

Michael and his 50-year-old wife, Areerut, filed a complaint on 17 July, alleging that the suspect, identified only as 38-year-old “Alex” from Germany, had defrauded them using a fake online trading platform that mimicked a legitimate cryptocurrency investment site.

 

The couple met Alex via social media over a year ago and later travelled to Phuket to meet him in person. Convinced by the professional appearance of the website and the promise of high returns, they invested heavily in the scheme.

Screenshot of the alleged website.

 

But when they attempted to withdraw funds and then lost contact with Alex, they realised they had been conned. The total loss included a significant portion of Michael’s police pension.

 

Police investigators traced the money trail and located the suspect, who had fled his Phuket residence. He was arrested by Immigration Police Division 6 at a fitness club in southern Thailand after failing to respond to a summons. An arrest warrant had been issued on 23 July.

 

Alex now faces charges of computer fraud and public deception. He denies the allegations, claiming his mobile phone was stolen and that he, too, was a victim.

 

Thai authorities are urging others who may have been defrauded by Alex to contact their local police or Udon Thani City Police on 042-221077.

 

  Adapted by Asean Now from Khoasod 2025-08-03

 

 

 

I really, really, need to start investing in the crypto stuff. Scams everywhere. Home break-ins with torturing till you cough it up. Etc. Etc.

 

Is that Alex in the pic? Or the victim? Why so happy?

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

1 hour ago, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

Does that make the scam ok?

11 hours ago, PJ71 said:

Does that make the scam ok?

 

No, but when you have too much money you don't know what to do with, there's more likelihood of some unscrupulous people picking your pockets. 

 

For one thing, ultra rich people often outsource to other people to manage their money because it's a full-time job to invest 10s of millions of dollars ... and then can you trust these people? 

 

Just now, save the frogs said:

 

No, but when you have too much money you don't know what to do with, there's more likelihood of some unscrupulous people picking your pockets. 

 

For one thing, ultra rich people often outsource to other people to manage their money because it's a full-time job to invest 10s of millions of dollars ... and then can you trust these people? 

 

How do you know the wealth of this man, was it mentioned in the article?

 

It's not impossible for that amount to be his life savings, or a good chunk of it?

12 hours ago, PJ71 said:

How do you know the wealth of this man, was it mentioned in the article?

 

It's not impossible for that amount to be his life savings, or a good chunk of it?

 

Would a very wealthy guy put his entire life savings into a shady crypto site?

 

Doesn't make sense. 

 

23 minutes ago, save the frogs said:

 

Would a very wealthy guy put his entire life savings into a shady crypto site?

 

Doesn't make sense. 

 

Lots of things don't make sense... but still happen

What probably happens is that this new Crypto site offered a very high staking or "automatic AI" based trading, then wait for large deposits and gone by the wind.

 

Most exchange offer staking, meaning, you just leave your crypto and it will give you a fixed return. I used to stake Cardano (ADA) getting 7-8% , now a days lucky to get 3-4%. But of course I did staking holding private keys.

 

So, this is how the scam goes.

1. New crypto exchange offers much higher returns than other established exchanges. Such as BTC for 5% Yearly Yield, while most exchanges are 0.9%

2. People sign up and start depositing their crypto from their hardware wallet or other exchange.

3. Suddenly exchange goes down and nobody can withdraw. 

4. You just lost everything.

 

Don't fall for high staking offers, keep your crypto in a hardware wallet.

better off just stick the gold of all coins, BTC, and use as your retirement.

 

my friends ask me from time to time since many years, "What should I invest" I say BTC only. nothing else.

 

 

6 hours ago, save the frogs said:

 

Would a very wealthy guy put his entire life savings into a shady crypto site?

 

Doesn't make sense. 

 

Boundless greed? ("high returns")

 

9 hours ago, gargamon said:

Is that Alex in the pic? Or the victim? Why so happy?

The happy fellow is the victim of course.

I don't read in the article that he got his money back?, so no idea why is so over joyed.

9 hours ago, Georgealbert said:

He denies the allegations, claiming his mobile phone was stolen and that he, too, was a victim.

All the millions were on the phone. A real pro...

liar!

Phone lost, millions lost.

Reminds me of the fool who threw a hard-disc with 750 million Euro worth of BC in the trash and since then trying to dig up the local garbage dump.

On 8/3/2025 at 6:03 AM, Georgealbert said:

He denies the allegations, claiming his mobile phone was stolen and that he, too, was a victim.

Nice try.... but your nicked.

Only a More Run would entrust his entire life savings to someone he meets in Thailand.  

 

And, yes, for some reason, this country attracts a lot of More Runs from the world over.

On 8/3/2025 at 6:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

Aren't you really trying to ask how an Aussie copper can have so much money on retirement?

I know I sure as sh## would be.

Was he stationed at the Cross or St Kilda?

Very intelligent Australian Policeman? 

No, also very greedy.

So the German arrested, money gone 🤣.

Good luck

This copper was very obviously on the take back in Oz because like so many other Australian police you need to be taking bribes to amase that much money and if he's that stupid then a fool and his money are soon parted. 

 

Every human being should, at birth, be branded on the forehead with the words of the one and only Eternal Truth:

 

THERE IS NO SUCH THING AS A FREE LUNCH.

 

In their own individual language, of course.

On 8/3/2025 at 6:03 AM, Georgealbert said:

legitimate cryptocurrency investment site

Oxymorn??? in the long run.   Anyway greed  breeds grief or is it stupidity?

On 8/2/2025 at 7:24 PM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

But look at the high yield he was going to get.   Bet the farm.

On 8/3/2025 at 7:57 AM, save the frogs said:

 

No, but when you have too much money you don't know what to do with, there's more likelihood of some unscrupulous people picking your pockets. 

 

For one thing, ultra rich people often outsource to other people to manage their money because it's a full-time job to invest 10s of millions of dollars ... and then can you trust these people? 

 

The impression that the original article gave was that he was a fairly normal sort of bloke who just invested a few thousand dollars early on and was fortunate enough to make a million bucks on his investment. There was nothing that implied that this guy is ultra rich, as a matter of fact I think it mentioned that that represented a good portion of his net worth. 

49 minutes ago, wombat said:

Aren't you really trying to ask how an Aussie copper can have so much money on retirement?

I know I sure as sh## would be.

Was he stationed at the Cross or St Kilda?

If AUD rather than USD, then although a fair sum, its only around GBP500,000. Could be the proceeds of a house sale.

Bybit is a legit exchange, there's much more to the scam

 

The victim probably entrusted his funds to the German, simple as that

19 hours ago, brfsa2 said:

What probably happens is that this new Crypto site offered a very high staking or "automatic AI" based trading, then wait for large deposits and gone by the wind.

 

Most exchange offer staking, meaning, you just leave your crypto and it will give you a fixed return. I used to stake Cardano (ADA) getting 7-8% , now a days lucky to get 3-4%. But of course I did staking holding private keys.

 

So, this is how the scam goes.

1. New crypto exchange offers much higher returns than other established exchanges. Such as BTC for 5% Yearly Yield, while most exchanges are 0.9%

2. People sign up and start depositing their crypto from their hardware wallet or other exchange.

3. Suddenly exchange goes down and nobody can withdraw. 

4. You just lost everything.

 

Don't fall for high staking offers, keep your crypto in a hardware wallet.

better off just stick the gold of all coins, BTC, and use as your retirement.

 

my friends ask me from time to time since many years, "What should I invest" I say BTC only. nothing else.

 

 

 

The maxis

 

DYOR

"Alex now faces charges of computer fraud and public deception. He denies the allegations, claiming his mobile phone was stolen and that he, too, was a victim."

 

Yeah ... right. The fact you fled your residence and failed to report to the summons and now,  and only now, you report that your phone had been stolen claiming victimhood.  No doubt he will come up with an excuse for not reporitng his mobile phone stolen on a timely basis,  that's if his phone had anything to do with the scam.

On 8/3/2025 at 6:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

That’s Australian $ so not that much in other currencies plus it stated a large amount from his police pension which I assume he was allowed to take it as a tax free allowance lump sum reducing his monthly pension having said all that the last thing I would do is invest in crypto I’ve seen to many people sucked into it and losing a lot of their investment by scammers 

On 8/3/2025 at 6:24 AM, save the frogs said:

What is your net worth if you can afford to gamble 1.1 million dollars on a shady crypto site? 

 

 

It seems that Australian police is as shady as their Thai counterparts when it comes to amassing irregular fortunes, not always reflecting the standard police salary.  Think Joe Ferrari and so many others.

On 8/3/2025 at 6:03 AM, Georgealbert said:

investigators traced the money trail and located the suspect, who had fled his Phuket residence. He was arrested by Immigration Police Division 6 at a fitness club in southern Thailand

 

Alex was smart enough to con people out of millions, but so dumb that he stayed in Thailand after being exposed? Or did he think he had greased things with the police?

 

25 minutes ago, heiri007 said:

Bybit is a legit exchange, there's much more to the scam

 

On 8/3/2025 at 6:03 AM, Georgealbert said:

“Alex” from Germany, had defrauded them using a fake online trading platform that mimicked a legitimate cryptocurrency investment site

 

This is the usual MO in the Chinese "pig butchering" scams - get people's trust by letting them log onto a doctored website that appears to show great returns, and maybe even let them withdraw or move small amounts, but then close it down and disappear when they become suspicious or try to get their money out.

On 8/3/2025 at 6:17 AM, gargamon said:

I really, really, need to start investing in the crypto stuff. Scams everywhere. Home break-ins with torturing till you cough it up. Etc. Etc.

 

Is that Alex in the pic? Or the victim? Why so happy?

You will buy bitcoin eventually, at the price you deserve

18 hours ago, KhunBENQ said:

All the millions were on the phone. A real pro...

liar!

Phone lost, millions lost.

Reminds me of the fool who threw a hard-disc with 750 million Euro worth of BC in the trash and since then trying to dig up the local garbage dump.

He's now trying to buy the land.

1 hour ago, Ironmike said:

This copper was very obviously on the take back in Oz because like so many other Australian police you need to be taking bribes to amase that much money and if he's that stupid then a fool and his money are soon parted. 

Aussie police = one of the best paid jobs for those with sticky fingers.

 Rodger Rogerson was a prime example