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Crypto Scam Crackdown: 276 Arrests Across Borders
WorldwideSaturday, May 9, 2026
A coordinated international effort led to the dismantling of nine fraud hubs and the arrest of 276 individuals involved in a sprawling cryptocurrency scam. The operation was carried out by the FBI, Dubai Police, and China’s Public Security Ministry.
Key Arrests
| Region | Charges | Notes |
|---|---|---|
| California | Wire fraud, money laundering | Three suspects charged; fourth seized by Thai authorities |
| Global | – | Operatives ran three shell companies: Ko Thet, Sanduo, and Giant |
Scam Methodology: “Pig‑Butchering”
- Fake Relationships – Scammers create false friendships or romances with victims.
- Cryptocurrency Pitch – They persuade targets to invest in bogus crypto deals.
- Account Setup – Victims open accounts and transfer funds to sham investment platforms.
- Money Seizure – Scammers withdraw the money, leaving victims out of pocket or in debt.
International Impact
- The scheme targeted Americans and individuals worldwide.
- DOJ’s assistant attorney general emphasized that scammers cannot evade justice by crossing borders.
- The crackdown follows other high‑profile crypto cases, including:
- A Hamas‑linked scheme seized in March 2025.
- A U.S. contractor accused of stealing $46 million from the Marshals Service in 2026.
Law Enforcement’s Expanding Reach
The operation demonstrates a growing commitment to policing the digital finance realm, aiming to safeguard citizens from global fraud and ensure accountability in both U.S. courts and abroad.
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