Crypto scam networks targeting Americans dismantled in global sting, 270+ arrested
Federal Bureau of Investigation headquarters logo is seen in Washington DC, United States on February 20, 2026, (Photo by Celal Gunes/Anadolu via Getty Images)
SAN DIEGO - A sweeping international crackdown led by Dubai Police, in coordination with the FBI and Chinese authorities, has resulted in more than 270 arrests and the dismantling of multiple scam centers behind cryptocurrency investment fraud schemes that targeted and defrauded Americans of millions.
Dig deeper:
The operation, led last week by Dubai Police under the United Arab Emirates Ministry of Interior, resulted in 275 arrests, including three individuals now facing federal wire fraud and money laundering charges in the Southern District of California. Authorities in Thailand separately arrested another suspect in connection with the case.
Those charged include Thet Min Nyi, 27, of Myanmar; Wiliang Awang, 23, of Indonesia; Andreas Chandra, 29, of Indonesia; and Lisa Mariam, 29, of Indonesia, along with two fugitives. The charges, unsealed in San Diego, allege federal fraud and money laundering offenses. Dubai Police arrested Thet Min Nyi, Chandra, and Mariam, while Thai authorities took Awang into custody.
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What they're saying:
"Fraudsters who target Americans from overseas cannot operate with impunity, no matter where in the world they reside," Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division said in an online news release. "The charges and arrests announced today reflect an international consensus that scam centers are unwelcome everywhere and must be rooted out. Scam center organizers and fraudsters who defraud Americans and others will face justice in American courts and in courts around the world. In contemporary society, fraud is borderless, and law enforcement activity to combat it and eliminate it is as well."
"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."
"Meta is committed to combating online fraud and scams, and we are proud to partner with law enforcement in these efforts," Chris Sonderby, Meta vice president and deputy general counsel, said in a statement to FOX Television Stations. "We applaud the Justice Department and FBI for their leadership in holding criminal scammers accountable and protecting American consumers."
The backstory:
In 2025, FBI San Diego agents launched a Homeland Security Task Force investigation into companies operating scam compounds tied to cryptocurrency fraud. According to court records, the defendants managed or worked for groups known as "Ko Thet Company," "Sanduo Group," and "Giant Company," carrying out so-called "pig-butchering" schemes that build trust through fake relationships before convincing victims to invest in fraudulent platforms.
Prosecutors say the scammers targeted victims in the United States and abroad, guiding them to transfer cryptocurrency into fake investment accounts while boasting of false profits and urging larger contributions — often financed through loans. Once funds were sent, victims lost control of their assets, which were then laundered through other accounts.
Investigators have identified numerous victims through FBI complaint data, with losses totaling millions of dollars.
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Thet Min Nyi, an alleged manager and recruiter for Ko Thet Company, was indicted in March 2026 in the Southern District of California on wire fraud and money laundering conspiracy charges, along with a fugitive co-defendant.
In April 2026, Awang, Chandra, Mariam and another fugitive were charged with wire fraud conspiracy tied to schemes linked to the Sanduo Group and Giant Company.
Dubai Police, operating under the UAE Ministry of Interior, played a key role in disrupting the networks through a parallel investigation and continue to work with international partners to combat transnational financial crime.
Big picture view:
FBI San Diego has pursued other major cryptocurrency fraud cases, including Operation Level Up, a joint effort launched in 2024 that has alerted nearly 9,000 victims and helped prevent an estimated $562 million in losses as of April 2026. Agents are also investigating the Tai Chang Scam Enterprise, a network of scam compounds in Burma targeting Americans.
What you can do:
If you have been defrauded out of your money by this type of scheme, please contact the FBI Internet Crime Complaint Center at ic3.gov.
The Source: The information in this story comes from a U.S. Department of Justice announcement. This story was reported from Los Angeles.