Nine Vietnamese Nationals Arrested in Violent Kidnapping of Thai-Taiwanese Couple Over Cryptocurrency Debt in Bangkok

Vietnamese Criminal Network Detains Couple in Bangkok Over Cryptocurrency Dispute

In a shocking case involving cryptocurrency fraud and physical violence, Thai authorities have arrested nine Vietnamese men for detaining a Thai woman and a Taiwanese man in Bangkok.

Police raided a house in Bangkok's Chatuchak district, arresting nine Vietnamese men.

The group, running a digital currency trading operation, was accused of using brutal methods to force the Taiwanese man to settle a 1.7 million baht debt.

Immigration officers initiated an investigation after receiving information about the illegal detention, as confirmed by Pol Maj Gen Phanthana Nutchanart, deputy chief of the Immigration Bureau (IB).

What led to the couple’s abduction?

The Thai woman, identified only as Suchada, 33, and her Taiwanese boyfriend, Li, 21, were lured to a house in the Chankasem area of Chatuchak district, under the pretense of completing a cryptocurrency purchase.

Immigration police found Suchada and Li being held captive in a house in Bangkok where they had been held by a Vietnamese gang.

Li had been trying to buy 50,000 USDT—Tether digital currency linked to the US dollar—worth 1.7 million baht.

The deal went awry when Li, acting as an agent for another individual named Artong, received the digital currency from the Vietnamese sellers but failed to transfer the corresponding amount in Thai baht.

When Li’s associate, Artong, vanished after the transaction, leaving Li unable to complete the payment, the situation quickly escalated.

According to Pol Maj Gen Phanthana, the Vietnamese men became enraged, detaining both Li and Suchada and violently assaulting the young man in an attempt to recover the debt.

Torture and Threats Over Missing Payment

The Vietnamese criminals did not hesitate to use force against Li.

Frustrated by the lack of payment, they resorted to physical violence, beating him with a metal baton, tying a cord around his neck, and threatening to cut off his fingers with scissors.

Li sustained bruises due to the gang's violent actions.

The aggression did not stop there.

“They beat him on the head with a gun and threatened to kill him if he failed to pay back the money,” said Pol Maj Gen Phanthana.

The brutality reached such a level that Li was compelled to call his family in Taiwan, pleading for them to send money to secure his release.

Li’s Desperate Call for Help

Authorities closely monitored the suspects' movements, noting suspicious activities within the house in Lat Phrao Soi 41.

On Wednesday, the Vietnamese men drove a car with fake license plates from the house to a warehouse in Suphan Buri province.

Later that evening, they returned with their captives, Li and Suchada, in tow.

Taiwanese officials in Bangkok had already been alerted when Li’s father filed a report with police in New Taipei after receiving his son’s desperate phone call.

Li allegedly informed his father that he had been taken hostage by a gang of Vietnamese men who had detained and severely assaulted him.

He also told his father that the group had threatened to kill him if he didn’t repay the money.

With this alarming information, immigration police swiftly moved to secure a court warrant to search the property.

The arrests and evidence seized

During the raid, officers found both Suchada and Li being held in a room within the house.

An immigration police officer speaking to Suchada and Li who was visibly bruised on his arm, as seen in the photo.

The nine Vietnamese suspects, ranging in age from 33 to 49, were arrested without resistance.

Among the group was Pham Van, 40, the leader of the operation, and his second-in-command, Pham Ngoc, 37.

Authorities also confiscated a Smith & Wesson revolver, 33 rounds of ammunition, and two cars used by the suspects.

Legal Action and Deportation Await the Suspects

The immigration police wasted no time in revoking the stay permits of the Vietnamese nationals involved.

The firearms, vehicles, and other evidence collected from the crime scene were turned over to Phahon Yothin police station for further legal action.

All nine individuals are now facing serious charges relating to illegal detention, assault, and fraudulent activities.

This case sheds light on the growing dangers tied to the cryptocurrency market, especially when large sums of money are involved.

It also highlights the swift action taken by law enforcement to dismantle such illegal operations and bring those responsible to justice.