For his alleged involvement in a 500 million baht cryptocurrency exchange fraud crime, a Thai man has been arrested. A Thai Crypto Wizard arrested for conning 16 million USD.

The self-proclaimed “cryptocurrency wizard” is forty-eight-year-old Mana Jumuang. He has spent some of the cash of his victims on property acquisitions.

According to a report by the Bangkok Post, Mana Jumuang was arrested while playing football at a field on Rama IX Road in Huai Khwang district, Pol Maj Gen Jiraphop Phuridet.

The provincial court of Phichit issued an arrest warrant on August 23. Mr. Mana is charged with being part of a Thai-Vietnamese gang which duped thousands of people in at least 10 Asian nations, including South Korea and Vietnam.

A Thai Crypto Wizard arrested for conning 16 million USD. Three Thai and four Vietnamese citizens were members in the gang, said Police Major General Jiraphop Phuridet. Their victims reported a total of 500 million baht lost, which is approximately $16 million.

Victims only received initial returns and were then unable to contact any of the gang members, said the CSD chief.

The gang persuaded individuals to invest in digital currencies through them over the previous two years. Members of the gang had individual responsibilities, such as opening bank accounts and claiming to be investors in digital assets.

According to the post, the Vietnamese suspects have left the country already, while the other two Thai suspects have been added to the police watch list.

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