Thai police dismantle $15 million cryptocurrency scam gang

ChainCatcher news, according to Decrypt, the Thai police, in conjunction with the Seoul police in South Korea, have dismantled a cryptocurrency scam gang called "Lungo Company" involving an amount of 15 million dollars. This gang deceived over 870 Korean victims through fake platforms and counterfeit compensation schemes.

The police arrested a total of 25 suspects, with core members detained by the Thai authorities, awaiting extradition. Experts say the gang employed multi-layered money laundering techniques, such as on-chain jumping, OTC networks, and parasitic exchanges, to evade regulation and facilitate fund transfers.