Thai police freeze $2.5 million in cryptocurrency assets, implicated in Chinese fraud gang

According to Khaosod English, Thai police, in collaboration with Chinese law enforcement agencies, have seized two Chinese fraud leaders and frozen USDT cryptocurrency assets worth $2.5 million (approximately 84 million Thai baht) on February 7th. Suspects: Ye Wanyou (29 years old) and Li Weijie (30 years old) Arrest operation: On February 5th, the Huamark Police Department and the Cybercrime Task Force (PCT) in Thailand launched a raid on a high-end residential area in Bangkok. The suspect attempted to destroy mobile phone data but was subdued by the police. Asset seizure: An initial seizure of $44550 in cash was made, followed by the discovery of a hidden cryptocurrency wallet and the freezing of $2.5 million in USDT with the assistance of Chinese police. The police investigation shows that the gang may be involved in human trafficking at the Myanmar Thailand border (in the Mae Sot area of Cambodia) and has an office in Phnom Penh, Cambodia, while also engaging in the sale of fake products within Thailand. Bangkok Police Chief Siam Boonsom announced additional fraud charges and opposed court bail. The investigation is still ongoing to track more individuals involved and the flow of funds.