Thai Authorities Recover Over $430,000 in Stolen Crypto From European Hacker

Thai authorities, with the FBI’s support, recovered over $432,000 in stolen crypto from a European hacker.

The hacker used malware to steal crypto credentials and laundered funds across various wallets.

Thailand is increasingly central in international efforts to combat crypto-related cybercrime.

Thai authorities have successfully recovered more than $432,000 in stolen cryptocurrency, following a cross-border operation with assistance from the FBI. The operation, known as “Operation 293,” targeted a hacker believed to be from Eastern Europe. According to local reports, the criminal, who had fled to Phuket, was involved in an elaborate cybercrime scheme that stole crypto assets from several Thai victims.

Cybercrime Scheme and Cooperation with International Agencies

Using malware, commissioned funds were stolen through devices of oblivious users. Hackers were enabled to take over crypto accounts by means of the credentials. The suspect then moved the money into Tether (USDT) and Bitcoin after he had first overdone logging in. The perpetrator further distributed his assets around different e-wallets to avoid detection.

The authorities managed to follow the path of the stolen money due to a tip-off from the FBI. The offender’s whereabouts were marked in Phuket, Thailand, where he had been hiding. The operation is a product of tremendous international cooperation. Thai police liaised with the FBI to apprehend the hacker and recover the stolen property. They are also collaborating with Bitkub, a cryptocurrency exchange, and Tether to reclaim the stolen funds. Bitkub facilitated tracing the smart contracts that the thief used for executing the money laundering of stolen cryptocurrency.

Following the recovery, a total of $320,000 worth of cryptocurrency was returned to Thai victims. The funds were seized and transferred into a controlled custody wallet by the Cyber Crime Investigation Bureau (CCIB), which managed the distribution process. On Monday, two victims received a portion of their funds back

Thailand’s Growing Role in Global Crypto Crime Enforcement

Thailand is becoming a more and more central player in the global battle over crypto crime. The country has already done so by arresting a fugitive from China, a $31 million Ponzi scheme uncoverer, who falsely claimed Morgan Stanley’s involvement. The same month, another fugitive from Portugal was caught running a $580 million crypto and credit card fraud operation.

Thailand’s authorities are showing a commitment to combating cybercrime, particularly in the growing cryptocurrency sector. Investigators have made significant strides in recovering stolen funds and dismantling criminal networks. As Thailand continues to tighten its enforcement on digital asset crimes, the country is sending a clear message to international cybercriminals looking to exploit its borders.