Thai police have arrested a South Korean national accused of helping a call center gang launder more than $50 million in cryptocurrency into gold, while Taiwanese prosecutors indicted 14 people in a separate $70 million laundering case, underscoring growing regional concerns over crypto-related financial crime.
The Technology Crime Suppression Division (TCSD) said officers detained the 33-year-old suspect, identified only as Han, at Bangkok’s Suvarnabhumi Airport on Saturday under a warrant issued in February, according to local outlet The Nation. Han faces charges of fraud, computer crimes, money laundering and involvement in a criminal syndicate.
Authorities allege that Han helped convert victim funds into gold bars on behalf of a scam network that promised investors returns of 30%–50% in fake opportunities. Investigators said his crypto accounts processed nearly 47.3 million USDT between January and March 2024, with each laundering round involving about $1 million worth of gold. Han’s mobile phone, which contained access to multiple crypto accounts linked to the scheme, was seized during his arrest.
Meanwhile in Taiwan, the Shilin District Prosecutor’s Office announced on Friday that 14 individuals had been charged in what it described as the country’s largest-ever cryptocurrency laundering case. Prosecutors said the group defrauded more than 1,500 victims, collecting roughly $71.9 million, which was then funneled through cash-to-crypto conversions and moved abroad via the local exchange BiXiang Technology.
Authorities have requested the confiscation of nearly $40 million in illicit proceeds, as well as 640,000 USDT, undisclosed amounts of Bitcoin and Tron, $1.8 million in cash, two luxury cars and more than $3 million in frozen bank deposits.
Both cases highlight how cross-border networks are increasingly turning to digital assets to obscure illicit funds. Officials in Thailand and Taiwan said investigations into additional accomplices are ongoing.
