Vietnamese Woman Arrested in Thailand Over Alleged $300M Crypto Scam

May 28, 2025

in Breaking, News

Reading Time: 7 mins read

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By Camomile Shumba|Edited by Nikhilesh De

May 28, 2025, 5:41 p.m.

Ngo Thi Theu, a 30-year old woman allegedly involved in a cryptocurrency scam, was arrested in Thailand last Friday.
The scam she was involved in deceived 2,600 victims and resulted in losses totalling $300 million, a local news organization said.

Ngo Thi Theu, a 30-year old Vietnamese woman allegedly involved in a cryptocurrency scam that deceived 2,600 victims and resulted in losses totalling $300 million, has been arrested in Thailand, Asia News Network reported on Tuesday.

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Law enforcement agencies had put out an Interpol red notice to track the Vietnamese woman down. She was arrested by the Thai Crime Suppression Division (CSD) at a hotel last Friday, ANN reported. CoinDesk was unable to contact the Thai Crime Suppression Division.

She was a key figure in a network that involved 35 officials and over 1,000 employees working across 44 call centres in Vietnam, the news site said. Theu allegedly lured people to invest in crypto and foreign exchange trading platforms by promising monthly returns of 20% to 30%, the report said.

Many citizens in Vietnam invest in crypto, making the nation vulnerable to crypto criminals who want to take advantage of the demand in the area. Data published recently showed that 21.2% of the 100 million people that live in the nation invest in crypto.

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. Previously, Shumba interned at Business Insider and Bloomberg. Camomile has featured in Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner.

Shumba studied politics, philosophy and economics as a combined degree at the University of East Anglia before doing a postgraduate degree in multimedia journalism. While she did her undergraduate degree she had an award-winning radio show on making a difference. She does not currently hold value in any digital currencies or projects.