Thai authorities have apprehended two individuals in connection with a suspected cryptocurrency scam, which allegedly swindled victims out of millions of Thai baht.
The suspects, identified as Monthira and Chinnawat, were arrested by officers from the Economic Crime Suppression Division (ECD) at a house in Pathum Thani province. The duo is accused of operating a fraudulent scheme that promised investors high returns through the platform m3mars.io, but ultimately blocked withdrawals.
According to investigators, victims were persuaded to invest through social media, with some reporting losses of up to five times their initial investment. The suspects are believed to have converted the funds into digital assets and transferred them to accomplices, making it difficult for authorities to track the financial trail.