Couple Arrested in Thailand for Billion-Baht Crypto Scam & International Kidnapping

In a dramatic turn of events, Thai authorities have uncovered an intricate web of international crime involving cryptocurrency fraud and a wanted kidnapper, all within the confines of a luxury villa in Pattaya.

The Technology Crime Suppression Division (TCSD) of the Royal Thai Police recently announced the arrest of 27-year-old Chinese national Wu Di, who is believed to be at the centre of a large-scale cryptocurrency investment scam that has defrauded victims of over 600 million baht (approximately US$17.7 million) within a span of just two months.

Wu was apprehended following a coordinated police raid on a rented villa in the popular tourist destination. However, the operation yielded more than anticipated. Alongside Wu, police discovered 29-year-old Zhou Zongyon, a fellow Chinese national who is wanted by Chinese authorities for a violent kidnapping in Cambodia.

The investigation into Wu began in April 2024, when a Thai schoolteacher reported losing nearly 1.5 million baht to a fraudulent investment scheme. According to the victim, the scammer initiated contact through Facebook, presenting a polished and persuasive persona. The woman was lured into investing in what was described as a Singapore dollar-denominated fund. Initially, she received small returns, creating an illusion of legitimacy. Encouraged by this, she invested further, only to find herself unable to withdraw the funds later—prompting her to file a formal complaint.

Thai investigators traced the flow of stolen money, revealing a sophisticated laundering operation. Funds were funnelled through multiple accounts opened under the names of Thai citizens—referred to by police as “puppet accounts.” These funds were then rapidly converted into cryptocurrency and transferred to a digital wallet in Cambodia registered to Wu.

The digital wallet linked to Wu was found to be associated with at least 63 reported fraud cases, totalling a staggering 618 million baht. During the raid, police confiscated evidence from Wus mobile phone, including images of extravagant living, substantial sums of cash, suspected drug use, and frequent travel across Thailand, Cambodia, and Malaysia.

Wu, however, denied all accusations. She reportedly claimed that her ex-boyfriend was responsible for opening the account to launder illicit funds for a criminal syndicate. Despite her denial, authorities pressed on with the investigation, citing substantial digital and financial evidence.

In connection with the case, four Thai nationals operating the puppet accounts have been arrested. Charges have already been filed against three of them.

Simultaneously, Zhou, who was found at the same residence, was taken into custody. Chinese authorities allege that he was involved in the kidnapping of a woman in Cambodia. The victims family reportedly received images of her being tortured, alongside a ransom demand of one million yuan (around US$138,000). Zhou is also suspected of laundering funds for transnational scam call centres.

Thai police noted that Zhou had entered the country illegally through the Cambodian border, as his passport lacked any valid Thai immigration stamps.