What Happened

Ngo Thi Theu, a 30-year-old Vietnamese woman, was arrested in Thailand last Friday for her involvement in a cryptocurrency scam, which reportedly misled 2,600 victims and caused losses amounting to $300 million, according to a news report.

Arrest Details

Authorities had issued an Interpol red notice for her arrest. She was captured by the Thai Crime Suppression Division (CSD) at a hotel. Theu is described as a central figure in a network that included 35 officials and over 1,000 employees operating across 44 call centres in Vietnam. The scam promised investors returns of 20% to 30% through cryptocurrency and foreign exchange trading platforms.

Crypto Landscape in Vietnam

A recent study revealed that around 21.2% of Vietnam’s population, totaling about 100 million people, engage in cryptocurrency investments, highlighting the country’s susceptibility to such financial fraud schemes.