Key Takeaways
- • 276 suspects arrested across Dubai, China, and Thailand in a coordinated FBI-led operation dismantling nine cryptocurrency pig-butchering scam compounds targeting Americans, with Dubai Police accounting for 275 arrests and Thai Royal Police detaining one fugitive.
- • Six defendants charged in Southern District of California on wire fraud and money laundering counts, including 27-year-old Burmese national Thet Min Nyi and Indonesian nationals Wiliang Awang, Andreas Chandra, and Lisa Mariam, allegedly operating entities named Ko Thet Company, Sanduo Group, and Giant Company.
- • Operation Level Up has flagged nearly 9,000 victims and prevented $562 million in losses as of April 2026, following a broader FBI initiative launched in early 2024 to proactively identify victims of cryptocurrency investment fraud before capital is depleted.
- • Crypto-related fraud reached record $11.3 billion in losses during 2025, representing more than half of all internet crime losses tracked nationwide, underscoring the scale and urgency of the enforcement action.
- • Pig-butchering scammers employed confidence-based tactics, cultivating fake friendships or romantic relationships with victims before directing them into bogus cryptocurrency investment platforms, with funds subsequently laundered through additional wallets.
Summary
The U.S. Department of Justice announced Wednesday a sweeping international law enforcement operation that resulted in 276 arrests and the dismantlement of at least nine cryptocurrency scam compounds operating overseas. The coordinated crackdown, led by the FBI and executed in partnership with Dubai Police, China's Ministry of Public Security, and Thailand's Royal Thai Police, targeted networks engaged in "pig-butchering" schemes—a confidence-based fraud variant that has drained millions of dollars from American victims.
Dubai authorities executed the majority of apprehensions, accounting for 275 of the 276 arrests, while the Royal Thai Police detained one additional suspect. In the United States, federal prosecutors unsealed wire fraud and money laundering charges in the Southern District of California against six defendants: Thet Min Nyi, a 27-year-old Burmese national; Indonesian nationals Wiliang Awang (23), Andreas Chandra (29), and Lisa Mariam (29); and two fugitives. Court records identify the criminal entities as Ko Thet Company, Sanduo Group, and Giant Company. According to U.S. Attorney Adam Gordon for the Southern District of California, the operation demonstrates that "global crime now faces global justice" and that perpetrators cannot assume safety by operating offshore.
The pig-butchering methodology employed by these networks followed a deliberate social engineering pattern: scammers cultivated trust with victims through fabricated friendships or romantic relationships, then persuaded targets to deposit funds into fraudulent cryptocurrency investment platforms. Perpetrators continuously promoted false investment gains to encourage additional deposits, frequently pressuring victims to secure loans or solicit money from family members to fund larger positions.
The action aligns with the FBI's broader Operation Level Up initiative, launched in early 2024 to proactively identify and notify cryptocurrency investment fraud victims. As of April 2026, Operation Level Up has flagged nearly 9,000 victims and prevented an estimated $562 million in losses. The enforcement action arrives amid a documented surge in cryptocurrency-related fraud: the FBI reported that crypto fraud losses reached a record $11.3 billion in 2025, exceeding 50% of all tracked internet crime losses nationwide. Assistant Attorney General A. Tysen Duva stated that "scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world," underscoring the coordinated international commitment to disrupting these networks.
Dubai authorities executed the majority of apprehensions, accounting for 275 of the 276 arrests, while the Royal Thai Police detained one additional suspect. In the United States, federal prosecutors unsealed wire fraud and money laundering charges in the Southern District of California against six defendants: Thet Min Nyi, a 27-year-old Burmese national; Indonesian nationals Wiliang Awang (23), Andreas Chandra (29), and Lisa Mariam (29); and two fugitives. Court records identify the criminal entities as Ko Thet Company, Sanduo Group, and Giant Company. According to U.S. Attorney Adam Gordon for the Southern District of California, the operation demonstrates that "global crime now faces global justice" and that perpetrators cannot assume safety by operating offshore.
The pig-butchering methodology employed by these networks followed a deliberate social engineering pattern: scammers cultivated trust with victims through fabricated friendships or romantic relationships, then persuaded targets to deposit funds into fraudulent cryptocurrency investment platforms. Perpetrators continuously promoted false investment gains to encourage additional deposits, frequently pressuring victims to secure loans or solicit money from family members to fund larger positions.
The action aligns with the FBI's broader Operation Level Up initiative, launched in early 2024 to proactively identify and notify cryptocurrency investment fraud victims. As of April 2026, Operation Level Up has flagged nearly 9,000 victims and prevented an estimated $562 million in losses. The enforcement action arrives amid a documented surge in cryptocurrency-related fraud: the FBI reported that crypto fraud losses reached a record $11.3 billion in 2025, exceeding 50% of all tracked internet crime losses nationwide. Assistant Attorney General A. Tysen Duva stated that "scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world," underscoring the coordinated international commitment to disrupting these networks.
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