Crypto Scam Ring in Thailand Swindles $15M from Koreans

Crypto Scam Ring in Thailand Swindles $15 Million from Koreans

Written by Aaron S.,

Editor-In-Chief

Last Updated: September 23, 2025

Key Takeaways

A scam group operating from Thailand defrauded nearly 900 South Koreans of over $15 million through romance traps and fake crypto deals;
Thai and South Korean police arrested 34 people, including the group’s leader, with extradition efforts now underway;
The group, run like a company, used stolen data and controlled members strictly inside a Pattaya resort base.

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A group based in Thailand has been caught running a large-scale scam that stole over $15 million from hundreds of South Koreans.

According to a report by Korea JoongAng Daily, the scam involved a range of tactics, including romance-related fraud and fake cryptocurrency offers.

South Korea’s Seoul Metropolitan Police reported that 25 individuals linked to the scam have been arrested. Thai police also captured the group’s leader and eight others.

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They are currently being held in Thailand while South Korean authorities work on bringing them back for trial.

The scam took place between July 2024 and July 2025. Nearly 900 individuals were misled into transferring money through various fake platforms. Some were told they were being compensated for personal data leaks, while others were lured into fake online relationships.

The group operated under the name "Lungo Company" and was set up like a business, with different teams focusing on specific scams.

Inside their base in Pattaya, group leaders enforced strict control. Passports were taken, phones were limited, and no one was allowed to leave. Members were also trained in how to carry out the scams, and those who performed well were rewarded.

Thai police raided the resort in June and arrested several members. With help from Seoul’s police force, they later located and detained the key leaders. Many of those already brought back to Korea are under formal investigation.

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