Pedro M. Busted in Bangkok Over $580 Million Cryptocurrency Fraud

The suspect, named by Thai outlet Khaosod as Pedro M., was located in a Bangkok shopping mall after being recognized by a Portuguese journalist visiting the city.

Although the newspaper did not provide his full surname, photos and details shared in Portuguese media suggest he is Pedro Mourato.

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Authorities confirmed his identity through facial recognition and other biometric checks. More than ten officers in plain clothes were sent into the mall to search for him. He was eventually spotted using his phone, with witnesses describing him as visibly uneasy.

Police reports stated that Pedro was born in Lisbon and moved to Thailand in 2023. An arrest warrant was issued upon his entry into the country, but he managed to evade detention.

He remained there without valid documents after failing to renew his visa or register a legal residence.

Investigators noted that he continued his scams while in Bangkok by tricking local investors out of more than 1 million baht (around $30,800). Khaosod, citing Interpol records, added that his alleged criminal activity stretches far beyond Thailand, which links him to fraud cases in Portugal, other parts of Europe, and the Philippines.

Pedro is currently in custody while Thai police coordinate with international agencies to review the evidence.

Recently, Zhimin Qian, a Chinese woman, admitted in a UK court to holding and acquiring criminal property worth 61,000 Bitcoin. How did the case unfold? Read the full story.