19 fraud suspects were arrested due to operations conducted by intelligence agencies in Bangkok and Phuket. Criminals were able to rob more than 1.4 million crypto-investors for a total of 22 million US dollars.
The criminal group offered cryptocurrencies to gullible traders in binary options trading. The organizers of the SiamOption project offered traders the trading of 40 assets, including cryptocurrencies. To gain access to the platform, it was necessary to pay a subscription fee in cryptocurrency for using the platform services. The trading conditions were so attractive that 1.4 million crypto traders could not resist the temptation. After paying the monthly fee, the platform stopped working.