Binance Assisted Thai Police in Confiscating $277M Linked to Crypto Scams

​Binance, the world's leading cryptocurrency exchange, has collaborated with the Royal Thai Police's Cyber Crime Investigation Bureau (CCIB) to assist in cracking down on criminal networks utilizing digital assets for illicit financial activities. Binance's Investigations team provided valuable information to aid the CCIB in apprehending individuals involved in significant cryptocurrency scams.

Thanks to the information shared by Binance and HSI, the CCIB successfully arrested five key members of the criminal organization and seized assets valued at approximately THB 10 billion ($277 million). These assets included luxury cars, properties, land, and various high-end belongings. Following these developments, more than 3,200 individuals have come forward seeking restitution.

These assets encompassed luxury automobiles, residences, land, and various high-end possessions. Subsequent to these developments, more than 3,200 individuals have stepped forward, seeking restitution. 

Police Lieutenant Colonel Thanatus Kangruambutr, Inspector of the Cyber Support Unit at Thailand’s Cyber Crime Investigation Bureau, remarked: “We appreciate Binance’s significant contribution to the disruption of this criminal group. The rise of crypto scams in recent years has resulted in financial damage of hundreds of millions in Thailand. Yet, through prompt information exchange with key partners, including the Binance Investigations team, this successful operation resulted in the arrests of the criminals. Binance remains an essential ally in our combat against scams and cybercrimes. We value this partnership and look forward to continuing it.”