PANews reported on February 11 that according to Khaosod English, Thai police, in conjunction with Chinese law enforcement agencies, seized two Chinese fraud leaders and froze USDT crypto assets worth US$2.5 million (approximately 84 million Thai baht) on February 7.

The suspects Ye Wanyou (29) and Li Weijie (30) were arrested by the Huamark Police and the Cyber Crime Task Force (PCT) on February 5. The police launched an operation in a high-end residential area in Bangkok. The suspects tried to destroy their mobile phone data but were subdued. Initially, $44,550 in cash was seized. Later, with the assistance of the Chinese police, a hidden crypto wallet was discovered and $2.5 million in USDT was frozen.

Investigations have shown that the gang may be involved in human trafficking on the Myanmar-Thailand border (Mae Sot, Tak Province), and has an office in Phnom Penh, Cambodia, while also engaging in the sale of fake products in Thailand. Bangkok Police Chief Siam Boonsom announced additional fraud charges and opposed bail from the court. More investigations to track the people involved and the flow of funds are still ongoing.