PANews reported on May 24 that, according to Bitcoin.com, the Windhoek High Court in Namibia revoked the bail of eight defendants in a cryptocurrency fraud and human trafficking case, and forfeited approximately $29,800 in bail. Prosecutors stated that the eight suspects included six Chinese nationals, one Vanuatu national, and one Singaporean national. The six Chinese suspects have been traced to China, and Namibian authorities have requested Interpol's assistance in locating them.

The criminal gang operated through a shell company called Raylon Investments between December 2022 and October 2023. They allegedly recruited unemployed Namibians and forced them into labor. The state government stated that these employees were forced to create fake social media accounts, impersonating women from Europe and America, to lure international victims into romantic relationships. Once trust was established, the victims were manipulated into transferring money to cryptocurrency accounts controlled by the gang. Investigators estimate the gang stole approximately $267,800 from victims worldwide.