U.S. authorities charge alleged crypto scam managers after 276 arrests in Dubai-led crackdown

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U.S. charges in crypto scam crackdown

Highlights

U.S. authorities, cooperating with Dubai Police and China's Ministry of Public Security, arrest at least 276 suspects and dismantle nine crypto scam centers in a global crackdown.
Federal charges in Southern District of California target Thet Min Nyi, Wiliang Awang, Andreas Chandra, Lisa Mariam, and two fugitives for fraud and money laundering linked to Ko Thet Company, Sanduo Group, and Giant Company.
The FBI's Operation Level Up, launched in 2024, notifies nearly 9,000 victims and saves an estimated $562 million as of April 2026.

Charges and arrests in the international operation

As reported by the U.S. Department of Justice, cooperation among the FBI, Dubai Police and China's Ministry of Public Security leads to at least 276 arrests and the dismantling of at least nine scam centers used for cryptocurrency investment fraud. Dubai Police, operating under the United Arab Emirates Ministry of Interior, spearheads the crackdown last week, while the Royal Thai Police arrest an additional suspect in Thailand.

Authorities in the Southern District of California unseal charges against Thet Min Nyi, Wiliang Awang, Andreas Chandra and Lisa Mariam, along with two fugitive co-conspirators. The defendants face federal fraud and money laundering allegations tied to three alleged scam organizations, Ko Thet Company, Sanduo Group and Giant Company.

Dubai authorities apprehend Thet Min Nyi, Chandra and Mariam, while Thai police apprehend Awang. Prosecutors say a March 2026 grand jury indictment charges Thet Min Nyi and one fugitive co-defendant with wire fraud conspiracy and money laundering conspiracy, and April 2026 criminal complaints charge Awang, Chandra, Mariam and another fugitive co-defendant with wire fraud conspiracy.

How the schemes operate and broader enforcement impact

Investigators say the defendants target citizens in the U.S. and other countries by building trust through friendship or romance before steering victims into fake cryptocurrency investments. After victims transfer funds to fraudulent platforms, scammers allegedly move the assets to other cryptocurrency accounts and encourage victims to send even more money, including through loans from friends, family or lenders.

According to court filings cited by prosecutors, FBI San Diego opens a Homeland Security Task Force investigation in 2025 after identifying companies and individuals managing scam compounds. The FBI says it identifies numerous victims through complaints filed with the Internet Crime Complaint Center and has so far traced millions of dollars in losses across jurisdictions.

Authorities say Meta Platforms, the parent of Facebook and Instagram, provides critical information to the investigation. The Justice Department adds that FBI San Diego's broader anti-fraud work includes Operation Level Up, which begins in 2024 and, as of April 2026, notifies almost 9,000 victims and saves an estimated $562 million.

Our earlier article on Reform UK’s crypto-linked funding scrutiny examined questions raised after Nigel Farage disclosed a roughly £5 million personal security gift from a major Tether stakeholder, alongside substantial reported donations to the party. We also noted how the UK’s move to restrict political donations made in crypto reflects wider concerns about transparency and potential foreign influence in digital-asset funding.

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