Project Brazen links KuCoin to billions in pig butchering scams
While pig butchering scams have been occurring for nearly a decade and often without involving cryptocurrency, the rise of crypto, stablecoins, and civil strife in Southeast Asia has caused the scams to proliferate, and, according to Project Brazen’s Whale Hunting newsletter, KuCoin Thailand is helping. The reporting is filled with bombshell allegations: secret investments into cryptocurrency mining companies, South African fixers offering private jet bribes, billions of dollars moving between scam centers in Cambodia, Laos, and Thailand, and KuCoin setting up its Thai subsidiary to serve the people and companies behind this pig butchering economy. Former Thai prime minister Thaksin Shinawatra – who is currently in a prison hospital serving a sentence – is at the center of it all. The rise and fall of KuCoin Protos has previously reported on KuCoin’s legal problems, which include allegations of failing to implement proper know-your-customer and anti-money laundering ...