A South Korean man named Han was arrested in Bangkok for allegedly laundering over $50 million in cryptocurrency into gold bars within three months. He was linked to a call-center fraud network promising high returns to lure victims, initially paying out small amounts before enforcing withdrawal limits. Han reportedly amassed 47.3 million in Tether to purchase gold, facilitating the conversion of illicit funds. Police apprehended him at Suvarnabhumi Airport, charging him with multiple crimes, including money laundering. In 2024, global losses from crypto scams reached $10.7 billion, with scams increasing significantly. Despite this, Thailand is promoting crypto to boost tourism.
