International Takedown Disrupts Dubai-Based Pig-Butchering Crypto Scam Network

U.S., Chinese, Thai, and Dubai law enforcement agencies disrupted a major cryptocurrency investment fraud network by raiding at least nine scam centers in Dubai and arresting 276 people across the Middle East and Southeast Asia. The investigation began after the FBI received complaints from American victims who lost millions of dollars in so-called pig-butchering schemes, and authorities said the operation used fake online personas, romance-style social engineering, and fraudulent crypto investment platforms to steal funds from victims worldwide.

U.S. prosecutors in San Diego unsealed fraud and money laundering charges against alleged operators Thet Min Nyi, Wiliang Awang, Andreas Chandra, and Lisa Mariam, along with two fugitive co-conspirators. Investigators said the network operated through Ko Thet Company, Sanduo Group, and Giant Company, luring victims to bogus platforms including CoinswiftTrading and SwiftLedger, then moving stolen money through cryptocurrency accounts to obstruct recovery. The Justice Department said the action forms part of its broader Scam Center Strike Force campaign against cyber-enabled fraud that reportedly cost Americans $16 billion in the prior year.