The Thai Cyber Crime Investigation Bureau (CCIB) has arrested seven Chinese nationals for their involvement in a cryptocurrency fraud and money laundering scheme. The suspects used fake social media profiles to deceive victims into investing in a fraudulent crypto business, resulting in damages of over 10 billion baht globally. The police conducted raids in Bangkok and seized cash, luxury properties, cars, and counterfeit passports. The authorities plan to return the seized assets to the victims while continuing the investigation. This comes as a new cryptocurrency scam called “pig butchering” has emerged, where scammers establish trust with victims before stealing their investments.