Portuguese National Arrested for $580 Million Cryptocurrency Fraud in Bangkok

A Portuguese national, Pedro M., has been arrested in Bangkok for allegedly orchestrating a €500 million cryptocurrency fraud that spanned Europe, Asia, and impacted locals across the region. The arrest comes amidst growing concerns about the lack of international oversight in the world of cryptocurrencies. 39-year-old Pedro M. was apprehended after facial recognition technology aided authorities in identifying him at a Bangkok mall, leading to his immediate detention. The investigation highlights the need for improved cross-border collaboration to tackle financial crimes.