In an announcement sent to Cointelegraph, Binance said it worked alongside law enforcement agencies, providing intelligence to disrupt the criminal group. The operation, which had the code “Trust No One,” led to the arrest of five alleged key syndicate members and the seizure of various assets worth $277 million. Over 3,200 victims have already contacted the authorities to file for compensation.
The Cyber Crime Investigation Bureau (CCIB) of the Royal Thai Police collaborated with crypto exchange Binance and United States Homeland Security Investigations (HSI) to take down a crime ring responsible for conducting a pig butchering crypto scam in Thailand.