Recently, the immigration officers in Bangkok, Thailand, declared that they had arrested many Chinese people who were involved in crypto crime.
According to the Immigration Bureau of the Royal Thai Police, the team captured up to 24 Chinese nationals on December 2, 2019. They were operating a crypto-based scam call center in the Rama III neighborhood of Bangkok.
The operation head has hired some employees to work for three months on a monthly salary of 5,000 Yuan for covering the expenses that they have incurred. The workers need to submit their passports to company officials on arrival and work from 9 AM to 10 PM daily. In that call center, the employees called Chinese investors to convince them to make investments in Bitcoin so that they can earn a profit.
The total money during the operation is not yet revealed. In a raid, the police got internet routers, 24 mobile phones, and 61 laptops.
Digital currency scams on phone calls are nowadays prevalent and have increased as well. Bitcoin has now returned to profit, and the assets are getting more coverage. The interest in the asset as payment and investments has been increasing. Currently, scammers are taking benefit of the interest in virtual currencies and lure people by promising them to give massive returns on their investments.
In October, the police of Canada declared that they caught a bitcoin scam in which the victims got a call from the fake Canada Revenue Agency officers. Many people in the Barrie area were targeted in the fraud and scammers stole an amount of $18,764 from the local people. The scammers fooled victims by convincing them that they have reviewed his tax returns and then, owned some unpaid amount of money.
In some cases, the victims get threating calls by the scammers in which they warn the victims that if they are unable to make the payments, then they will be jailed. Callers can intelligently rectify the problems of the victim and use a famous payment media, i.e., Google Play Cards and Bitcoin.
There is another issue, also known as SIM swapping, in which the scammer buys new SIM cards and calls the victim’s mobile phone carriers. He tells him that he can access to victim’s information for the retrieval process. In August 2018, Michael Terpin, a crypto investor, was struggling with mobile operator AT&T after accusing the company of SIM swapping. He lost around $25 million of his crypto holdings.