A 30-year-old Vietnamese woman, Ngo Thi Theu, has been taken into custody by Thai law enforcement in connection with a cryptocurrency scam that allegedly duped 2,600 individuals and resulted in financial losses of $300 million, according to a report by Asia News Network on Tuesday. Following an Interpol red notice, Theu was apprehended by the Thai Crime Suppression Division at a hotel last Friday.
The division's efforts were instrumental in tracking her down. Theu's alleged role in the scam involved heading a network that spanned 44 call centers in Vietnam, employing over 1,000 workers and 35 officials. The scheme promised unsuspecting investors monthly returns of 20% to 30% on cryptocurrency and foreign exchange trading platforms.
Vietnam's significant cryptocurrency investment market, with 21.2% of its 100 million citizens invested in crypto, has created an environment vulnerable to crypto-related crimes.