• South Australia Police has filed 800 charges and made 55 arrests in connection with a massive cryptocurrency-linked crime ring. The latest move is the third phase of Operation Ironside, a joint Australian Federal Police and FBI investigation.
• According to ABC News, authorities have seized crypto assets worth around AU$58 million ($37.9 million) tied to the probe.
• The FBI had built an app dubbed AN0M to interpret criminal communications secretly. Using the encrypted messaging app, the authorities tracked down illicit communications related to drug smuggling and crypto transactions.
• The new phase was launched after the High Court approved the use of AN0M messages as evidence.
• Deputy Police Commissioner Linda Williams said that the move is a “significant blow to organized crime across South Australia.”
• She called the arrests “unprecedented,” adding that 300 police officers were involved in several raids.
• “I think you can anticipate more arrests, but probably not at the [tempo] that you have seen today,” she added.

FBI Used AN0M to Track Crypto-Related Crimes

• The Federal Bureau of Investigation (FBI) installed AN0M on modified phones that lack cameras, GPS, or browsers, designed to appeal to criminals seeking secure communication for illicit activities. The application was allegedly hidden in each phone’s calculator.
• The FBI worked with the Australian Federal Police, who “developed a world-first capability to unscramble encrypted communications.” Together, they secretly captured all data sent between devices using the platform, the ABC report read.
• The AN0M app included features like self-expiring messages, the ability to take and send photos, voice alteration and file storage.
• Soon, hundreds of criminals were arrested as part of Operation Ironside in Australia. Per the Australian Federal Police, almost 1,000 suspects had been arrested around the world, with weapons and money laundering involving crypto.
• “This is a really strong deterrent message to organised criminals operating in South Australia,” said Deputy Commissioner Williams. “We have been able to leverage the intelligence from the encrypted AN0M app to bring this to a successful resolution.”

Crypto Crime Investigations Places ‘Burgen’ on Enforcement Agencies: Europol

• Recently, Europol warned that the misuse of crypto for criminal use is “becoming increasingly sophisticated.” In a report released last week, the law enforcement agency noted that the growing sophistication of criminal tactics poses risks to the crypto sector and scam victims at large.
• “The misuse of crypto and blockchain technology for criminal purposes is becoming increasingly sophisticated, complex and organized,” said Burkhard Mühl, Head of Europol’s European Financial and Economic Crime Centre.

As a result, investigating these crypto-linked crimes has become a “burden” for agencies worldwide, he added.

#FBI #Jucom #cryptocurrency #blockchain #Finance

Authorities in Thailand have successfully recovered more than $432,000 (14 million baht) in stolen digital assets from an alleged Eastern European cybercriminal who had been hiding in Phuket, officials announced Wednesday.

• Lt. Gen. Suraphon Prempoot, who leads Thailand's Cyber Crime Investigation Bureau (CCIB), disclosed that "Operation 293" resulted in the seizure and return of $320,000 worth of crypto to Thai victims, according to a local media report.
• The Federal Bureau of Investigation initially tipped off Thai investigators that a suspect from an Eastern European country bordering Asia had escaped to Thailand.
• "This operation shows that even sophisticated hackers cannot hide behind digital anonymity," Suraphon said, as cited in the report.
• The alleged hacker deployed malware that infiltrated victims' devices to capture authentication keys and seed phrases, critical access credentials for crypto accounts.
• After stealing the credentials, the suspect moved victim funds into Tether’s stablecoin USDT and Bitcoin, then dispersed the assets across numerous digital wallets, according to the report.
• Authorities ultimately identified six Thai nationals who fell victim to the operation, with aggregate losses surpassing 100,000 (roughly 3.2 million baht), the report says.
• Investigators reportedly worked with Tether to freeze the stolen USDT and later teamed up with Bangkok-based crypto exchange Bitkub to trace smart contracts and secure the assets.
• Officials moved 432,000 USDT into a CCIB-controlled custody wallet before distributing recovered funds to two victims on Monday.
• Decrypt has reached out to the Royal Thai Police, Tether, and Bitkub for further comment.

Thailand's crypto enforcement crackdown

• Thailand has become a hub for both crypto fugitives seeking refuge and authorities cracking down on digital asset crimes.
• Just last month, Thai police captured Liang Ai-Bing, a Chinese national accused of running an alleged $31 million Ponzi scheme in 2023 disguised as a DeFi platform called FINTOCH.
• The scheme falsely claimed ties to Morgan Stanley and used a fake CEO, “Bob Lambert,” whose photo was actually actor Mike Provenzano, allegedly defrauding nearly 100 Chinese investors before collapsing.
• In early October, Bangkok authorities arrested Portuguese national Pedro M. on suspicion of allegedly orchestrating $580 million in crypto and credit card fraud across multiple jurisdictions.

Thai police dismantled the "Lungo Company” in September, a criminal network that allegedly defrauded more than 870 South Koreans of $15 million through romance scams, fake lottery schemes, and fraudulent crypto investments.

#Thailand #FBI #CryptoScam #Jucom #cryptocurrency $BTC/USDT $ETH/USDT $JU/USDT