Thai authorities have arrested a 33-year-old South Korean man accused of laundering over $50 million in cryptocurrency by converting it into gold for a criminal call center gang. The suspect, identified only as Han, was apprehended at Bangkok’s Suvarnabhumi Airport under a warrant issued earlier this year, according to local reports. He now faces charges of fraud, computer crimes, money laundering, and participation in a criminal syndicate.

Investigators say the case links to a large-scale scam that began in early 2024, where victims were lured into fake “investment opportunities” with promised returns of 30% to 50%. While early payouts created trust, withdrawals were eventually blocked under false pretenses, leaving victims empty-handed. Complaints led to a police probe that has so far resulted in 10 arrests, including five alleged launderers and five mule account holders.

Han allegedly managed multiple crypto wallets that funneled victim funds into gold purchases worth millions. Authorities estimate that between January and March 2024, around 47.3 million USDt was laundered through his accounts, with each transaction involving more than 10 kilograms of gold valued at roughly $1 million. His seized phone contained several crypto accounts tied to the scheme.

Meanwhile, Taiwanese prosecutors have indicted 14 individuals in what is being called the country’s largest crypto money laundering case. The group is accused of defrauding more than 1,500 victims, generating over $70 million in illegal proceeds. Authorities are seeking to confiscate nearly $40 million in assets, including Bitcoin, Tron, $1.8 million in cash, luxury cars, and frozen deposits.

The twin crackdowns highlight growing regional cooperation against crypto-related financial crime as scams evolve into highly organized, cross-border operations. Both cases remain under investigation, with more arrests expected.