Thai police arresting 15 Eastern European nationals operating a cryptocurrency investment fraud website from a windowless Bangkok warehouse after neighbors reported suspicious activity. Thai Metropolitan Police arrested 15 foreign nationals Friday night after raiding a Bangkok warehouse converted into a crypto scam operation, authorities confirmed Saturday.
Officers arrived at the Soi Nuan Chan location around 8:30 PM on November 15 following resident complaints about noise and foreign nationals entering a warehouse-like building between sois 36 and 38 in Bung Kum district, according to Metropolitan Police Bureau Commissioner Pol Lt Col Siam Boonsom.
Police encountered two Azerbaijani men outside who had difficulty communicating in English. When the building owner arrived, officers were granted access to search the premises.
Police Find Sealed Operations Room
Inside, officers discovered a large windowless room secured by a steel door with a peephole. Behind the door, 15 people sat at computer workstations. Several suspects attempted to flee through a back exit but were detained.
The Cyber Crime Investigation Bureau was contacted to assist with the investigation. Authorities said the group operated a website designed to defraud victims through fake cryptocurrency trading schemes.
Officers arrested nine Azerbaijani nationals, five Georgian nationals, and one Ukrainian citizen. All face charges of conspiracy, participation in a transnational criminal organization, and working in Thailand without proper permits.
Equipment and Scripts Seized During Bangkok Crypto Scam
Police confiscated 25 notebook computers, two internet routers, 16 mobile phones, 15 sets of headphones with charging cables, and multiple documents containing scam scripts. The materials showed how operatives communicated with potential victims.
The suspects were transferred to Khok Khram Police Station for questioning. Immigration authorities are reviewing their backgrounds and visa status.
Thailand Intensifies Bangkok Crypto Scam Crackdown
The Bangkok crypto scam raid represents part of Thailand’s expanded enforcement against cryptocurrency fraud operations. In recent months, Thai authorities have worked with international partners to combat transnational scam networks.
Prime Minister Anutin Charnvirakul announced in October that police had seized more than 14 million baht ($432,000) in digital assets, with victims receiving reimbursements. Authorities also apprehended networks connected to former Cambodian Senator Ly Yong Phat for alleged money laundering tied to online scams.
Thai police, collaborating with Tether, recovered $12 million linked to a transnational scam operating across Southeast Asia. “This operation highlights how blockchain transparency can empower law enforcement to act quickly and effectively against criminal activity,” Tether CEO Paolo Ardoino stated at the time.
The United States has formed a joint task force to counter crypto-related fraud targeting Americans in Southeast Asia. U.S. Attorney Jeanine Pirro noted Americans have lost over $9 billion to these schemes, with actual losses likely higher due to underreporting.
Chain Street’s Take
The Bangkok crypto scam raid demonstrates how community vigilance combined with coordinated law enforcement can disrupt fraud operations. The sealed warehouse setup, complete with peepholes and attempted escapes, suggests these weren’t amateur operators but part of organized networks.
What remains unclear is how many victims were targeted, where they’re located, and how much money the operation collected before the raid. Thai authorities’ increased cooperation with international partners and blockchain firms like Tether shows a shift toward treating crypto fraud as a cross-border law enforcement priority rather than isolated incidents.
The question now is whether this enforcement pressure will push these operations to other jurisdictions or genuinely reduce their scale.
