Key Takeaways
- Between January and March 2024, Han’s accounts received digital assets worth 47.3 million USDT
- His arrest was carried out under offences including fraud, impersonation by entering false information into a computer system, money laundering, and involvement in a criminal syndicate.
A 33-year-old South Korean man has been arrested in Thailand on allegations of laundering crypto for call-centre gangs by converting it into gold bars worth more than 1.6 billion baht(Thai currency), amounting to almost USD50 million.
The suspect, identified as Han, was taken into custody at Suvarnabhumi Airport on Saturday by officers from the Technology Crime Suppression Division (TCSD) and the Immigration Bureau.
His arrest was carried out under a warrant issued by the Criminal Court on 6 February 2025 for offences and charges including fraud, impersonation by entering false information into a computer system, money laundering, and involvement in a criminal syndicate.
According to police, the investigation began after complaints were lodged in February 2024 from individuals duped into online scams disguised as part-time jobs such as boosting likes and followers. Victims were persuaded to invest money with promises of high returns of 30–50 percent. While initial payments were made, larger sums were later withheld, prompting reports to the authorities.
Ten suspects connected to the scams have already been arrested, including five who laundered money for call-centre groups and five who maintained mule bank accounts. Police identified Han as a key figure in the operation.
Investigators allege Han studied in China before working for a South Korean company that specialised in converting crypto into gold for the scam networks. Reportedly, he was responsible for opening digital asset accounts, receiving funds from victims, and purchasing gold bars from overseas suppliers on behalf of the syndicate.
A mobile phone seized during his arrest contained multiple crypto accounts and records linked to money laundering activity, police said. Each transaction reportedly involved about 10 kilogrammes of gold, valued at around 34 million baht. Between January and March 2024, Han’s accounts received digital assets worth 47.3 million USDT, equivalent to about 1.6 billion baht, which were allegedly laundered into gold.
