In one of the largest coordinated enforcement actions against cryptocurrency investment fraud to date, U.S. and international authorities arrested at least 276 individuals and dismantled at least nine alleged scam centers operating across multiple countries. The action, led by the FBI alongside the Dubai Police Department and China’s Ministry of Public Security, targeted organized networks that allegedly ran pig-butchering schemes designed to drain the savings of Americans and others worldwide.
If you or a loved one suffered significant losses through a cryptocurrency investment platform, and a licensed financial professional, broker, or advisor facilitated your investment, the experienced cryptocurrency fraud attorneys at Meyer Wilson Werning can help evaluate whether your losses are the result of actionable misconduct. Contact us today for a free and confidential consultation, and you pay nothing unless we recover for you.
What the DOJ Announced: 276 Arrests and Nine Alleged Scam Centers Dismantled
According to the Department of Justice press release, the Dubai Police conducted the bulk of the arrests, apprehending 275 individuals under the UAE Ministry of Interior, while Royal Thai Police arrested one additional defendant in Thailand.
U.S. prosecutors in San Diego unsealed federal charges against six defendants connected to three alleged scam organizations: Ko Thet Company, Sanduo Group, and Giant Company. Four defendants were apprehended abroad, and two co-conspirators remain fugitives.
The defendants named in federal filings include:
- Thet Min Nyi, 27, Burmese national, alleged manager and recruiter for Ko Thet Company, apprehended by Dubai Police
- Wiliang Awang, 23, Indonesian national, apprehended by Royal Thai Police
- Andreas Chandra, 29, Indonesian national, apprehended by Dubai Police
- Lisa Mariam, 29, Indonesian national, apprehended by Dubai Police
- Two fugitive co-conspirators, ages 22 and 27, both Indonesian nationals, still at large
Charges include wire fraud conspiracy and money laundering conspiracy, each carrying a maximum penalty of 20 years in federal prison. The FBI, U.S. Secret Service, and IRS Criminal Investigation all participated in the U.S. enforcement effort.
“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 of the DOJ’s Criminal Division. “Scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world.”
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How the Alleged Pig-Butchering Scheme Worked
According to charging documents, the defendants allegedly ran coordinated pig-butchering operations from overseas compounds staffed with recruiters, floor managers, and social engineers. The scheme followed a well-documented playbook.
Scammers reportedly made contact through friendship or romantic overtures on social media and messaging apps, building trust with targets over time before steering them toward fake cryptocurrency investment platforms. Once victims transferred funds, the platforms displayed fabricated profits to encourage even larger deposits. Victims were urged to borrow money from family and friends or take out loans to “invest” more.
When victims attempted to withdraw funds, they were blocked. The alleged scammers had full control of the wallets and routed the funds through layered cryptocurrency addresses to frustrate investigators. By the time the scheme became apparent, the money was gone.
“These scammers thought they were safe half a world away,” said U.S. Attorney Adam Gordon for the Southern District of California. “But their world has changed. Global crime now faces global justice.”
Operation level Up: $562 Million in Losses Interrupted
The arrests build on years of work by FBI San Diego and FBI Phoenix. Their joint initiative, Operation Level Up, launched in 2024 with a proactive approach: identifying fraud in progress and alerting potential victims before they lost everything.
As of April 2026, the FBI had notified almost 9,000 individuals and estimated it had interrupted approximately $562 million in potential losses, according to the DOJ. Investigators used complaints filed with the FBI’s Internet Crime Complaint Center (IC3) to identify victims nationwide, then traced financial flows and cryptocurrency records to map the alleged networks.
Investigators are also separately examining the Tai Chang Scam Enterprise, a series of alleged scam compounds located in Burma’s Karen State that are also believed to be conducting cryptocurrency investment fraud schemes against Americans.
Meta Platforms provided critical information to support the investigation. Prosecution is being led by Assistant U.S. Attorney Peter Horn and Trial Attorneys Stefanie Schwartz and William Gullotta of the DOJ’s Computer Crime and Intellectual Property Section.
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Red Flags of a Fake Cryptocurrency Investment Platform
The tactics described in charging documents appear across many cryptocurrency fraud cases. Investors who recognize these warning signs should preserve all records and consult counsel immediately.
- Unsolicited contact through social media or messaging apps leading to investment recommendations
- Guaranteed or unusually high returns on cryptocurrency investments
- Pressure to invest larger amounts, borrow from family, or take out loans
- Fabricated account dashboards showing profits that cannot be independently verified
- Withdrawal blocks or unexplained fees when attempting to retrieve funds
- Requests to move to private messaging platforms away from verifiable channels
- Unlicensed or unregistered platforms with no regulatory oversight
- Overconcentration in a single token, venue, or strategy without explanation
These patterns also raise questions about the conduct of any licensed financial professional who may have recommended or facilitated access to such a platform. Where a broker or advisor played a role, arbitration may provide a path to recovery.
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How Meyer Wilson Werning Can Help
The scale of this enforcement action confirms what many investors have already experienced: these are not spontaneous scams run by lone actors. They are industrialized fraud operations with managers, recruiters, scripted playbooks, and layered money-laundering infrastructure. For the people who lost retirement savings, college funds, or business capital, the criminal charges are only part of the picture. Civil recovery remains a separate and important path.
With more than $350 million recovered for investors nationwide, Meyer Wilson Werning has spent over 25 years pursuing claims against the brokers, advisors, and firms that enable or facilitate investment fraud. If you suffered losses through a cryptocurrency platform or a licensed financial professional who directed you toward one, contact us today for a free and confidential consultation. You pay nothing unless we recover for you.
Frequently Asked Questions
What is pig butchering and how does it work?
Pig butchering is a form of cryptocurrency investment fraud in which scammers build trust through fake friendships or romantic relationships before directing victims to fraudulent investment platforms. Victims are shown fabricated profits to encourage larger deposits. Once significant funds are transferred, the scammer cuts off contact and the platform disappears. The name refers to the practice of “fattening up” the victim before taking everything.
Who was arrested in the FBI’s coordinated scam center takedown?
According to the Department of Justice, at least 276 individuals were arrested internationally. Four named defendants, Thet Min Nyi, Wiliang Awang, Andreas Chandra, and Lisa Mariam, face federal wire fraud and money laundering charges in San Diego. Two fugitive co-conspirators remain at large. The arrests were conducted by Dubai Police, Royal Thai Police, and other international partners.
What is Operation Level Up?
Operation Level Up is a joint FBI initiative between San Diego and Phoenix field offices launched in 2024 to proactively identify cryptocurrency investment fraud in progress and alert potential victims before they suffer losses. As of April 2026, the FBI notified almost 9,000 individuals and estimated it had interrupted approximately $562 million in losses.
Can I recover money lost to a pig-butchering scam?
Recovery depends on several factors, including how the funds were transferred, whether a licensed financial professional was involved, and how quickly you act. Where a broker or advisor recommended or facilitated the platform, FINRA arbitration may be available. Blockchain forensics and targeted litigation can also pursue facilitators and intermediaries. Preserving records including chat histories, transaction IDs, wallet addresses, and screenshots strengthens any claim.
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