Interpol, an international police organization, has arrested a woman named Ngo Thi Theu, also called Madam Ngo, in Bangkok, Thailand. She has been arrested for running a $300 million crypto scam that tricked over 2,000 people. The arrest happened in the Watthana area.
The 30-year-old from Vietnam was caught in a hotel with two bodyguards, Ta Dinh Phuoc, 38, and Trong Khuyen Trong, 41, who were also arrested for staying in Thailand longer than their visas allowed.
As per the reports, ‘Madam Ngo’ has assured the people that if they invest in her crypto scheme, they will make a 20-30% profit each month. And as soon as the people invested in her fake crypto scheme, she stole their money and hid it through a complicated money-laundering system. Police from Thailand and Vietnam have worked together to find her.
The scam run by ‘Madam Ngo’ was huge and has shocked many people in the crypto world. She targeted people mostly from Vietnam. Fraudsters used famous people and influencers to manipulate people into trusting them. This plan has helped the scammers to reach more people.
Now, the police of Thailand and Vietnam are working together to figure out how scammers hid the stolen money. This case reminds everyone that the crypto world can be risky because it’s not fully regulated, and investigations are still going on. Additionally, the incident highlights the increasing sophistication and cunning of crypto scams and why countries need to work together to stop such fraud.
Also Read: Crypto Investors Lost $2.6 Million to Phishing Scam