Binance, a cryptocurrency infrastructure provider, has been working with the Royal Thai Police to investigate criminal networks in Thailand that rely on digital assets to move funds. From what it’s understood, the Binance Investigations team played a role in two operations alongside the Cyber Crime Investigation Bureau (CCIB) and the Royal Thai Police’s Central Investigation Bureau (CIB).
According to an official release, the Binance Investigations team joined forces with the CCIB and US Homeland Security Investigation (HSI), to tackle the criminals behind a pig butchering scam in Thailand. Reportedly, this operation, known under the code name Trust No One, resulted in the seizure of approximately THB 10 billion in assets and the arrest of five criminal syndicate members.
Separately, Binance’s Investigation team has seemingly been in the investigation of another crypto scam. Sources suggest that arrests of suspects took place across 30 locations in Bangkok, Samut Prakan, and Udon Thani provinces, with over 200 law enforcement officers from the CIB seizing 16 luxury homes, 12 high-end vehicles, and cash amounting to THB 16 million.
“I believe the rise of crypto scams in recent years has resulted in financial damage in Thailand. Yet, through information exchange with partners, including the Binance investigations team, this operation resulted in arrests of the criminals. I think Binance remains an ally in our combat against scams and cybercrimes. We value this partnership and look forward to continuing it,” Thanatus Kangruambutr, inspector of cyber support unit, high-tech crime division, CCIB, commented.
