FBI-led task force arrests 276 in Dubai-linked crypto scam

The Justice Department announced Wednesday that a global task force led by the FBI arrested 276 suspects and disrupted nine scam centers tied to Dubai. Law enforcement partners in Dubai, Thailand and China took part in the coordinated action.

Dubai police carried out 276 of the arrests, Thai authorities arrested one suspect, and three people face federal charges in the Southern District of California. The investigation began last year after FBI agents in San Diego identified multiple suspects and facilities believed to be operating scam compounds.

Authorities identified three companies-Ko Thet Company, Sanduo Group and Giant Company-that recruited workers to staff the compounds. Investigators say those facilities were used to run fraudulent crypto investment operations.

The schemes followed the “pig butchering” model, in which fraudsters cultivate online relationships, build trust and then persuade victims to invest in fake cryptocurrency opportunities. Victims in the United States and other countries were lured with promises of high returns. According to investigators, funds were routed through sham trading platforms to accounts controlled by the scammers and then moved through additional crypto wallets to conceal the proceeds.

Investigators reported losses of “millions of dollars” tied to the cross-border schemes. The arrests and disruptions targeted the networks that operated the fraudulent platforms and handled the proceeds. The three people charged in California face counts that include wire fraud and money laundering.

Assistant Attorney General A. Tysen Duva of the Justice Department's Criminal Division warned, “Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside.” U.S. Attorney Adam Gordon for the Southern District of California added, “These scammers thought they were safe half a world away. But their world has changed. Global crime now faces global justice.”

The FBI reported that last year losses tied to cryptocurrency scams reached a record $11.3 billion, representing more than half of the $20.9 billion in total internet crime losses the agency tracked. The Justice Department said the arrests are part of broader efforts to disrupt international fraud networks that use online platforms and digital assets to move and hide criminal proceeds.

Authorities said they will continue working with international partners to trace illicit funds, dismantle remaining scam centers and pursue charges against organizers and operators who defraud U.S. residents and others.