The crypto wallet linked to an alleged money laundering suspect involved in romance scams had received over $122.5 million (roughly Rs. 1,168 crore) within ten months, revealed Interpol, as authorities widened investigations against online fraud. A statement by Interpol revealed that Thai authorities apprehended two individuals and exposed the money laundering network, through which funds obtained via romance scams were laundered by turning them into cryptocurrencies using cross-chain token swap mechanisms. The Thai operation was a result of Operation First Light 2026, which is an initiative of Interpol against social engineering scams and money laundering systems.
Operation First Light Leads to Arrests, Global Asset Freezes
This joint operation saw participation from agencies from 97 countries and jurisdictions, leading to 5,811 arrests and the recovery of $293 million (roughly Rs. 2,793 crore) in illegally obtained funds related to fraud and money laundering. Tomonobu Kaya, director of Interpol’s Financial Crime and Anti-Corruption Centre, said social engineering scams “continue to pose a significant threat to our society,” adding that no country can tackle the problem alone.
The authorities participating in the investigation were tasked with freezing bank accounts and cryptocurrency wallets where the illegal money was moved. There were 152,808 cases examined, 31,014 bank accounts frozen, 23,715 cases solved, and 15,606 suspects identified. Interpol’s freezing payment system, called the Global Rapid Intervention of Payments, was used by authorities to freeze transactions of fiat money as well as cryptocurrencies.
Deportations were also carried out by the authorities in Palau, where 22 persons were deported for their involvement in two fraud operations at hotel centres involving cryptocurrency and online gambling.
The case emerges against the backdrop of heightened alarm on the usage of crypto in romance and financial schemes. In April 2025, the FBI reported that there were 181,565 complaints about fraud involving cryptocurrencies for losses worth over $11 billion (roughly Rs. 1,04,863 crore).
There are plenty of authorities globally who have taken steps to tackle such scams. In April 2025, Operation Atlantic, led by the UK’s National Crime Agency (NCA), the US Secret Service, the Ontario Provincial Police, and the Ontario Securities Commission, struck a pivotal blow against phishing scams, freezing $12 million (roughly Rs. 114 crore) tied to these funds. This operation managed to identify more than 20,000 victims across the three countries. Operation Atlantic has categorised these scams as ‘approval phishing’ scams.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
