A joint international operation led by Dubai Police with U.S., Chinese and other partners arrested at least 276 suspects and shut down nine cryptocurrency investment fraud centers that ran pig-butchering romance-baiting schemes. U.S. agencies linked millions in losses to these networks, charging figures such as Thet Min Nyi and affiliates of Sanduo Group and Giant Company, while follow-up efforts include the U.S. Scam Center Strike Force and major seizures like the DOJ’s $15 billion recovery from Prince Group #DubaiPolice #PrinceGroup
Keypoints
- International law enforcement led by Dubai Police arrested at least 276 suspects and closed nine crypto investment fraud centers.
- Scammers used pig-butchering (romance baiting) to build trust and push victims into fake cryptocurrency platforms that drained and laundered funds.
- Prosecutors charged alleged organizers including Thet Min Nyi and members tied to Sanduo Group and Giant Company, with some co-conspirators still at large.
- FBI IC3 complaints tied millions in U.S. losses to these schemes, and the FBI reported investment fraud caused $8.6 billion in losses in 2025.
- The U.S. formed the Scam Center Strike Force and achieved major actions like the DOJ’s $15 billion seizure from Prince Group, while European police dismantled a separate €50 million ring.