A Portuguese man associated with a $580M cryptocurrency scam was detained by Thai authorities in Bangkok, after a curious journalist stumbled upon him.
On October 2, 2025, a 39-year-old Portuguese man who orchestrated a massive cryptocurrency and credit card scam, estimated at a value of about $580 million, was arrested in a Bangkok shopping mall.
The suspect was named Pedro M., and he had been on the loose since he entered Thailand illegally in 2023. Thai authorities indicated that he was suspected.
This breakthrough followed when a Portuguese journalist who was on holiday in Bangkok knew him and reported the matter to the immigration officers.
Thai Manhunt Climaxes in Posh Shopping Center
Following the tip-off, police put over 10 plainclothes officers on patrol in the mall and led a five-hour search before eventually detaining Pedro, who looked anxious on a phone call. Immigration books recorded his valid visa stamp as 2023.
Pedro acknowledged that he had exceeded his tourist visa, and he was accused of visa offences. The police identified and matched him through facial recognition and biometric databases.
Global Criminal Network Exposed
According to Interpol information and the European press, it has been reported that Pedro had large fraud operations in Europe, the Philippines, and Thailand. He orchestrated Bitcoin investment schemes, credit card fraud, and forgery of passports.
In one way or another, Swiss bank accounts associated with him transferred more than half a billion (500 million) dollars, including small investors as well as entire financial institutions.
According to Thai officials, his local Bitcoin scam operations defrauded more than 1 million baht worth of victims at the time he was in Bangkok.
Criminal Justice and International Relations
After the arrest, Pedro will be prosecuted in Thailand and will be added to the immigration blacklist.
Following the judicial process, he will be deported to Portugal to answer several charges, such as fraud, money laundering, and forgery.
Portuguese and Interpol officials anticipate following up on the asset recovery associated with the scheme.
The arrest highlights some of the persistent problems in tracking and fighting cryptocurrency crimes worldwide.
