Thai authorities arrested a 39-year-old Portuguese national suspected of running a massive cross-border crypto and credit card scam worth nearly $580 million. The man, identified in Portuguese reports as Pedro Mourato, had been living in Thailand since 2023 on an overstayed visa and without proper registration.
Police tracked him down at a luxury mall in Bangkok, where plainclothes officers detained him during a phone call. Officers used facial recognition and biometric data to confirm his identity. Investigators linked him to a sprawling network spanning Portugal, Europe, the Philippines, and Thailand, where he allegedly carried out credit card fraud and crypto investment scams. Even while hiding in Thailand, officials say he continued to swindle investors out of millions of baht.
Thailand’s Crackdown on Crypto Crime
Thailand has become a hub for fugitives involved in cryptocurrency fraud, but recent arrests show authorities are stepping up enforcement.
- In May 2025, police detained five people in connection with “Operation Crypto Phantom,” a money-laundering ring tied to unlicensed crypto exchanges. The group allegedly funneled over 14 billion baht (about $380 million) through Bangkok, Phuket, and Chon Buri.
- In August 2025, cyber police arrested a 33-year-old South Korean man at Suvarnabhumi Airport for converting crypto into gold bars on behalf of call center scams. That case involved around $47 million.
These cases highlight Thailand’s growing efforts to disrupt networks using cryptocurrency for illicit activities.
The arrest of a figure linked to hundreds of millions in stolen funds marks a significant step in the global fight against crypto fraud. The case illustrates how advanced surveillance, biometrics, and international cooperation can corner suspects who rely on anonymity and weak immigration systems.
Authorities are expected to seek extradition to Portugal or other affected countries. Investigators will also focus on seizing assets, tracing stolen funds through blockchain records, and identifying accomplices. For regulators and compliance experts, this case will serve as a test of whether large-scale crypto fraud can be dismantled and prosecuted effectively.
