The Global Takedown: FBI and International Allies Dismantle Billion-Dollar Pig-Butchering Empires

An unprecedented cooperation between the FBI, Dubai Police, and the Chinese Ministry of Public Security has resulted in a massive crackdown on cryptocurrency investment fraud. The operation, which culminated last week, led to the arrest of at least 276 individuals and the total dismantlement of nine sophisticated scam centers.

These centers were the engines behind “pig-butchering” schemes—a predatory form of fraud where scammers build deep emotional bonds with victims before leading them to financial slaughter. To date, investigators have identified millions of dollars in losses suffered by Americans at the hands of these specific organizations.

The investigation, spearheaded by the Dubai Police under the UAE Ministry of Interior, targeted three primary “companies” managing these compounds: Ko Thet Company (also known as “Pixy”), Sanduo Group, and Giant Company.

According to federal indictments unsealed today in San Diego, the defendants managed and recruited workers for these compounds, where the “pig-butchering” process was industrialized. Scammers cultivated trust and affection through phony romances or friendships before persuading victims to move their life savings into fraudulent investment platforms.

The DOJ describes the deceptive nature of the trap: “Fake platforms put the victims’ funds in the hands of the scammers, who then laundered the victims’ funds to other cryptocurrency accounts, including their own.”

The crackdown spanned multiple continents. Among the 275 individuals apprehended by Dubai authorities were three key defendants now facing federal wire fraud and money laundering charges in the Southern District of California: Thet Min Nyi (27), Andreas Chandra (29), and Lisa Mariam (29). A fourth defendant, Wiliang Awang (23), was captured by the Royal Thai Police.

The success of this operation was fueled by data from the FBI’s Internet Crime Complaint Center (IC3) and critical information provided by private sector partners like Meta Platforms, Inc. This initiative is part of a broader, more proactive strategy by the FBI. Since 2024, a joint initiative known as Operation Level Up has worked to identify victims before their losses become catastrophic. As of April 2026, the FBI has notified nearly 9,000 victims, saving an estimated $562 million in potential losses.

The FBI is currently investigating additional groups, such as the Tai Chang Scam Enterprise in Burma, which continues to target Americans.