Unprecedented International Cooperation (Image Credits: Unsplash)
A major international law enforcement effort has resulted in the arrest of at least 276 individuals linked to cryptocurrency fraud schemes that targeted Americans and others worldwide. The operation, coordinated by the FBI with partners in Dubai, China, and Thailand, dismantled at least nine scam centers responsible for siphoning millions of dollars from victims. Announced by the Department of Justice on April 29, 2026, the takedown underscores growing cross-border collaboration against sophisticated online fraud.[1]
Unprecedented International Cooperation
The takedown stemmed from an investigation launched in 2025 by the FBI’s San Diego Field Office as part of the Homeland Security Task Force. Dubai Police led the raids that apprehended 275 suspects, while the Royal Thai Police arrested one additional fugitive. The Chinese Ministry of Public Security also played a key role in the effort, marking rare collaboration amid ongoing global concerns over cyber fraud.[1]
These scam centers operated under front companies such as Ko Thet Company, also known as Pixy; Sanduo Group; and Giant Company. Authorities disrupted their activities last week before the announcement, preventing further losses. The operation aligned with broader U.S. initiatives, including Executive Order 14159, which prioritizes combating foreign-backed criminal networks.[2]
San Diego Charges Against Key Figures
Six individuals now face federal charges in the Southern District of California for their alleged roles in managing and recruiting for these operations. Thet Min Nyi, a 27-year-old Burmese national also known as Ko Thet or Ko Age, was indicted in March 2026 on wire fraud conspiracy and money laundering conspiracy charges. He reportedly oversaw Ko Thet Company.[1]
Others charged include Wiliang Awang, 23, from Indonesia, arrested in Thailand; Andreas Chandra, 29, from Indonesia, taken into custody in Dubai; and Lisa Mariam, 29, also Indonesian, detained in Dubai. Two co-conspirators remain fugitives. All face potential penalties of up to 20 years in prison if convicted.[3]
- Thet Min Nyi: Manager and recruiter, Ko Thet Company (Pixy).
- Wiliang Awang: Involved with Sanduo Group.
- Andreas Chandra: Linked to Sanduo Group and Giant Company.
- Lisa Mariam: Associated with Giant Company.
The Mechanics of Pig-Butchering Fraud
Pig-butchering schemes rely on building long-term trust with victims through online friendships or romantic relationships. Scammers then steer targets toward bogus cryptocurrency investment platforms, where initial small returns appear to encourage larger deposits. Funds quickly vanish as scammers launder them through controlled accounts.[1]
Victims often borrow money or take loans to invest more, amplifying losses. The FBI identified numerous U.S. victims through complaints to its Internet Crime Complaint Center, financial records, and cryptocurrency traces. Assistance from Meta Platforms helped pinpoint operations.[4]
These networks have caused millions in damages, contributing to record scam losses reported by the Federal Trade Commission in 2025.[4]
Protecting Victims and Ongoing Efforts
The FBI’s Operation Level Up, launched in 2024 from San Diego and Phoenix, has notified nearly 9,000 potential victims and prevented an estimated $562 million in losses as of April 2026. U.S. agencies like the Secret Service and IRS Criminal Investigation supported the probe. Victims are encouraged to report incidents via the IC3 website.[1]
What Matters Now: Law enforcement urges vigilance against unsolicited investment advice online, especially from new contacts promising high crypto returns. Verify platforms independently and report suspicions promptly.
Officials emphasized the borderless nature of modern fraud. “Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside,” said Assistant Attorney General A. Tysen Duva. U.S. Attorney Adam Gordon added, “Global crime now faces global justice.”[1][4]
This crackdown signals a shift toward sustained international pressure on scam operations, offering hope to those recovering from devastating losses while reminding the public of persistent digital threats.
