Thailand Police have arrested a 27-year-old actor Jiratpisit Jaravijit for being involved in a $24 million dollar crypto scam. The actor is suspected to be one of the 7 suspects of the scam which is said to include his sister and brother. The criminal court of Thailand issued an arrest warrant for Jiravijit after a complaint was launched by a Finnish man. He is accused of inviting foreigners to invest $24 million worth of digital currencies. He has since been detained for money laundering which he has denied.

The seven criminals lied to investors that they were to purchase shares in one company which invested in Dragon Coin. After investing, the investors were not invited to the shareholder’s meetings neither did they receive dividends for their investments. The criminals are said to have withdrawn the Bitcoin (BTC) and then converted it to baht.

A Separate Scam

In other reports, South Korean police are investigating the Shinil Group who have involvement in a crypto scam. In this scam, the suspects are said to have collected $53 million from 100,000 investors. Additionally, another crime has been unearthed in Tokyo after Trend Micro found Bitcoin ATM malware which can be bought online. The malware is said to have been advertised online by one user from the dark web. The price of this malware is $25,000. People can buy the Bitcoin automated teller machine virus accompanied by a card which will be ready to use which will have near-field communication capabilities.

Crypto Fraud

Bitcoin is the most famous digital currency after its invention in 2009. Since then Bitcoin has grown massively. However, the crypto market has been having some difficulties. Money laundering has been a big issue in the crypto sector. There have been many hacking claims in the crypto sector. It’s estimated that the crypto market has lost more than $1 billion in 2018 alone. These challenges have seen the crypto market drop since its all-time high in December 2017. At the time Bitcoin’s value was about $20,000. Now, Bitcoin is trading below $6,500. All other digital currencies have dropped since December.