FBI-led global crackdown disrupts “pig butchering” crypto networks — 276 arrested
A coordinated international law enforcement operation led by the FBI has toppled transnational “pig butchering” crypto fraud networks, resulting in 276 arrests and the disruption of nine scam centers, U.S. authorities said.
The Justice Department said the enforcement effort was carried out with partners in Dubai, Thailand and China. Dubai police arrested 275 people while Thai authorities detained one suspect. Separately, prosecutors in the U.S. Southern District of California have charged three individuals with wire fraud and money laundering stemming from the same probe.
The investigation began with an FBI probe in San Diego last year that traced multiple suspects and entities to organized scam compounds. Authorities identified three companies — Ko Thet Company, Sanduo Group and Giant Company — which they allege were fronts for fraud centers. Investigators say the operations used long-term deception tactics: scammers built trust with victims over time before pitching fake crypto investment opportunities — the hallmark of so-called “pig butchering” schemes.
According to the Justice Department, victims in the U.S. and abroad were convinced to transfer funds into bogus trading platforms. Those funds were then routed through bank accounts controlled by the perpetrators and laundered across numerous cryptocurrency wallets. Investigators have already linked “millions of dollars” in losses to the networks.
“Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside,” Assistant Attorney General A. Tysen Duva said, underscoring the cross-border focus of the operation.
The action follows earlier cooperation between the FBI and Thai authorities that led to the freezing of roughly $580 million in cryptocurrency and the seizure of about 8,000 mobile devices used in scam operations, an outcome reported by intelligence firm Solid Intel. Law enforcement agencies have increasingly targeted the infrastructure behind these scams — including large compounds across Southeast Asia — to disrupt fraud at its source.
The crackdown comes amid a surge in crypto-related crime: FBI data shows losses from cryptocurrency fraud reached a record $11.3 billion last year, accounting for more than half of the $20.9 billion in total internet crime losses tracked by the agency.
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