Vietnamese Woman Behind $300M Crypto Scam Arrested in Bangkok

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  • Interpol-wanted Vietnamese woman arrested in Bangkok for $300M crypto scam.
  • Ngo Thi Theu lured over 2,600 victims with false promises of high returns.
  • Scam funds were laundered into real estate; Ngo admits partial involvement.

In a twist fit for a heist movie, Thai police nabbed a Vietnamese woman on the run from the long arm of Interpol. This lady, Ngo Thi Theu (aka “Madam Ngo”), was caught red-handed in a hotel in Bangkok’s Watthana district. Turns out, she’d been hiding out after defrauding over 2,600 unsuspecting folks out of their hard-earned cash in a crypto scheme that had more twists than a pretzel.

Scam Promised Easy Money but Stole Millions

Reports say that Ngo was part of a scam that promised investors the moon and the stars through low-risk, high-return crypto and forex trading. At first, it seemed like a get-rich-quick dream come true. They hosted shiny seminars and flashy marketing events, making it look legit. Early victims even got a little taste of their profits, which only sucked more people in. But when the money started pouring in, they pulled a Houdini—vanishing without a trace.

Oh, and they didn’t stop there. No, no—participants were encouraged to invite more suckers, er, “investors” into the scheme. The scam spread like wildfire. Naturally, the Vietnamese police caught wind of this and issued an arrest warrant. Interpol, not wanting to be left out, issued a Red Notice. This lady was on the run faster than a fox with a beehive chasing it.

The scammers made off with a mind-blowing US$300 million. The mastermind? A Turkish fellow (because, of course). And he had 35 Vietnamese comrades helping out. There were over 1,000 people involved in this elaborate charade, working from 44 fake call centers across Vietnam. Oh, and it wasn’t just Vietnam—people in Phnom Penh, Cambodia were in on the action too. A truly international affair!

Now, where was Ngo stashing the loot? Thailand, of course. The authorities say she used fake IDs and bank accounts to move the stolen money into Thailand. There, she withdrew cash—lots of it. We’re talking about 1 million baht ($30,800) at a time. Talk about living on the edge, huh?

Ngo Admits to Laundering Crypto Scam Money into Property

After some intense police work, they finally tracked Ngo down to her hotel in Bangkok. And who did they find with her? Two other Vietnamese fellas—Ta Dinh Phuoc and Trong Khuyen Trong—looking like they had no idea they’d just been busted. They were all living in Thailand past the expiration of their visas. Oops!

During questioning, Ngo admitted to taking part in the scam, but claimed she wasn’t the big fish. Nope, that honor went to the Turkish guy. However, Ngo did admit to laundering the scam proceeds by buying real estate in Vietnam. Talk about property investments gone wrong!

All this points to a bigger issue: cryptocurrency fraud is spreading faster than a viral dance challenge. In 2024 alone, Kaspersky reported more than 10.7 million attempts at crypto-related phishing. That’s a 83% jump from the previous year. Scammers are getting slicker, setting up fake websites that mimic giants like Amazon, PayPal, and Mastercard. It’s getting hard to tell what’s real and what’s a trap!

In the end, Ngo Thi Theu’s arrest is a big win for law enforcement everywhere. It shows that when nations cooperate, even the most slippery criminals can be brought to justice. Maybe now people will think twice before trusting their savings to someone promising “easy money.”

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2025-05-26 23:22