BANGKOK — Thai authorities have apprehended a Chinese woman who allegedly masterminded a cryptocurrency investment scam, only to discover her boyfriend as an international fugitive hiding at the same residence.
The Technology Crime Suppression Division (TCSD), also known as Cyber Police, announced the arrest of Ms. Di Wu, 27, a Chinese national accused of benefiting from an online cryptocurrency investment scam that defrauded victims of 18.4 million USDT (approximately $618 million). Among her victims was a Thai teacher who lost substantial savings in the scheme.
Commander Lt. Gen. Trairong Phiwphan revealed that officers initially targeted Ms. Wu during a raid at a luxury pool villa in Pattaya, Chonburi province. However, during the operation, authorities unexpectedly discovered Zhou Zongyon, 29, a Chinese fugitive with an Interpol Red Notice hiding at the same residence.
China’s Most Wanted Criminal
When officers requested to examine Zhou’s passport, they discovered it lacked entry or exit stamps for Thailand. Zhou subsequently confessed to illegally entering Thailand through the Cambodian border.
Initially detained for immigration violations, further investigation in coordination with the Chinese Embassy revealed Zhou was one of China’s most wanted criminals, sought for the kidnapping of a Chinese woman in Sihanoukville, Cambodia.
In that case, Zhou allegedly sent images of the female victim being tortured and physically abused to her family, demanding a ransom of 1 million yuan (approximately $138,000) and threatening to murder her if the payment wasn’t made. The kidnapped woman remains missing. Chinese authorities also linked Zhou to money laundering operations for international call center scam networks.
A Female Thai Teacher Was Scammed
The investment fraud case began on April 2, 2024, when a female Thai teacher was approached on Facebook by a scammer using an attractive profile picture. The conversation later moved to LINE messaging app, where the scammer persuaded her to invest in a “Singapore fund” through an application called M-DAQP.
The victim initially received small withdrawals from her investment, encouraging her to invest more. However, after depositing larger amounts over a 16-day period, she was unable to withdraw funds. In total, she transferred 1.5 million baht ($44,400) in seven separate transactions, received only 57,900 baht ($1,710) back, resulting in a net loss of 1,442,100 baht ($42,690).
Cyber Police traced the financial trail to four Thai nationals who operated “mule accounts” used to receive baht transfers from victims. These funds were then converted to USDT cryptocurrency through P2P transactions on Binance and other Thai digital asset exchanges, before being transferred to Ms. Wu’s digital wallet.
The suspect Shows Luxurious Lifestyle
During the search, authorities discovered passports used to register cryptocurrency accounts that received proceeds from the scam. Examination of mobile phones revealed images of a luxurious lifestyle in Cambodia, including luxury cars, large amounts of cash, and evidence of drug use. Travel records showed Ms. Wu frequently moved between Thailand, Malaysia, and China.
Ms. Wu denied all allegations, claiming her ex-boyfriend may have used her information to open cryptocurrency accounts for money laundering operations run by criminal groups in neighboring countries. She stated her frequent travel to neighboring countries was related to online sales of concert tickets. Investigators are currently examining electronic evidence to build a stronger case against her.
Lt. Gen. Trairong stated that both Chinese nationals will face legal proceedings in Thailand before being handed over to Chinese authorities for prosecution under Chinese law. Meanwhile, Thai cybercrime police are expanding the investigation to identify additional suspects in the operation.
Three of the Thai mule account operators have already been apprehended, while authorities are actively pursuing the fourth suspect.
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