South Korean man arrested in Thailand in $50 million crypto scam
A South Korean man was arrested in Bangkok, Thailand on Saturday, accused of laundering over $50 million worth of cryptocurrency into physical gold bars in the span of just three months.
The man, identified by Thai authorities only as “Han,” was allegedly a key figure in a call-center fraud network that lured victims in with promises of 30-50% returns on investment. Authorities say the victims were paid off initially in small amounts to build trust before they started facing withdrawal limits later on.
Meanwhile, Han allegedly amassed 47.3 million in Tether, a stablecoin tied to the value of the U.S. dollar. He allegedly used the digital funds to purchase gold bars, each weighing more…
