Crime Police Smash Transnational Huione Pay Money Laundering Gang

[Georgealbert]

 

Picture: Courtesy of Khaosod

 

The Central Investigation Bureau (CIB) has dismantled a transnational money-laundering operation using the Huione Pay cryptocurrency platform, seizing more than 46 million baht in cash.

 

At a press briefing at CIB headquarters, Police Lieutenant General Jiraphop Puridet, CIB Commander, and Police Major General Athip Pongsivaprai, Head of the Cyber Crime Division, announced the results of “Operation SKYFALL.”

 

Three Myanmar nationals, Mr Oo Shin, 57, Ms Thida, 57, and Mr Louk Wai, 54, were arrested at a house in Tha Sai Luad, Mae Sot district, Tak province. They face charges including fraud by impersonation, organised crime, computer fraud causing public harm, conspiracy to commit money laundering and money laundering.

 

The investigation began after numerous victims reported being duped via a Facebook page advertising high-return stock investments. They were directed to large LINE groups where planted members claimed to have successfully profited. Victims were persuaded to invest via a fake application, “Ulela Max,” promising returns of around 10 per cent.

 

Over two months, victims transferred hundreds of thousands to millions of baht into multiple accounts, including company and “mule” accounts.

 

Police traced the funds’ path, initial deposits were converted into cryptocurrency, mainly USDT, through Thai exchanges such as BinanceTH and Bitkub, then funnelled through multiple private wallets. Transactions led investigators to an office in Poipet, Cambodia, where further laundering occurred via Huione Pay. The cryptocurrency was then moved to numerous beneficiary wallets before being converted back to cash.

 

Daily withdrawals of 20–30 million baht were made at local banks in Mae Sot, with the cash physically carried across the border into Myawaddy, Myanmar and handed to Chinese financiers. Police estimate the gang laundered more than one billion baht each month.

 

In total, 28 suspects have been indicted, including 24 account mules and four Myanmar beneficiaries. The latest arrests netted over 46 million baht in seized cash.

 

Police have yet to establish a link between the gang and notorious Cambodian call-centre boss “Kok Ann.” Efforts are under way to track masterminds believed to be in countries without extradition treaties with Thailand, with Interpol assistance being sought.

 

The suspects deny all charges and have been handed to prosecutors.

 

  Adapted by Asean Now from Khaosod 2025-08-09

 

 

 

[ChrisY1]

Ahhh...these are the busts they love doing! Piles of cash that, very likely, has already been earmarked!