On April 29, 2026, the U.S. Department of Justice (DOJ) announced the results of an unprecedented international law enforcement operation: the FBI, Dubai Police, and China's Ministry of Public Security coordinated to arrest at least 276 individuals and dismantle at least nine scam centers that specifically targeted U.S. citizens with fraudulent cryptocurrency investments. These centers used fake investment platforms and 'pig butchering' social engineering tactics to defraud victims of millions of dollars.
Unprecedented International Cooperation
The DOJ stated: 'Unprecedented cooperation among the FBI, the Dubai Police Department, and China's Ministry of Public Security resulted in the arrest of at least 276 individuals and the dismantlement of at least nine scam centers used for crypto investment fraud schemes.' These centers allegedly targeted Americans, who suffered losses totaling millions of dollars. Dubai authorities arrested 275 individuals, including three defendants indicted in San Diego. The Royal Thai Police arrested another defendant. The San Diego cases target Thet Min Nyi, Wiliang Awang, Andreas Chandra, Lisa Mariam, and two fugitives. Prosecutors linked the alleged activities to companies Ko Thet, Sanduo Group, and Giant Company.
Inside the Pig Butchering Tactics
The fraud schemes relied on 'pig butchering' — scammers building fake friendships or romantic relationships before pushing victims into fake investments. Victims were induced to open accounts, transfer cryptocurrency, borrow money, take out loans, and increase deposits. The platforms displayed apparent investment activity, but prosecutors say victims lost control once they sent their assets. The DOJ explained: 'The fake platforms placed victims' funds in the hands of the scammers, who then laundered those funds to other cryptocurrency accounts, including their own.' The defendants allegedly served as managers, recruiters, or staff within the fraudulent operations operating across multiple jurisdictions.
Severe Penalties: Up to 20 Years in Prison
The charges include conspiracy to commit wire fraud and conspiracy to commit money laundering. Each carries a maximum penalty of 20 years in prison, plus fines up to $250,000, $500,000, or twice the gain or loss, depending on the count. Prosecutors also included criminal forfeiture allegations against Thet Min Nyi and a fugitive co-defendant. This case demonstrates that law enforcement is targeting the infrastructure behind crypto fraud, not just individual scammers.
Investigative Details and Broader Context
The FBI's San Diego field office opened the investigation in 2025 after identifying companies and individuals linked to fraudulent networks. Meta Platforms, Inc., the parent company of Facebook and Instagram, provided information used in the investigation. The operation is part of the FBI San Diego's broader anti-crypto fraud efforts, including Operation 'Level Up,' which had alerted nearly 9,000 victims and recovered approximately $562 million by April 2026. Law enforcement agencies warn that pig butchering scams are on the rise in the U.S., and investors should be wary of any opportunity promising high returns that requires upfront cryptocurrency transfers.