NBI Arrests 15 in Mandaluyong Crypto Scam Raid
Authorities seized computers and digital tools linked to cybercrime after discovering a sophisticated operation using look-alike domains to impersonate legitimate cryptocurrency platforms and fabricate investment dashboards.
Key Takeaway
Guaranteed daily returns above 1% and requests to move crypto to locked dashboards are red flags for spoofed platforms.
The National Bureau of Investigation arrested 15 suspects running a crypto scam operation from a condominium unit in Mandaluyong City. The group included Chinese nationals, Malaysian nationals, and Filipino workers.
They used spoofed investment websites to impersonate legitimate platforms and fabricated dashboards to convince victims their money was growing. Desktop computers and digital tools linked to cybercrime offenses were seized during the raid.
Authorities warned that any platform guaranteeing daily profits of 1% or more is almost certainly a Ponzi scheme or a spoofed site. One common trick involves look-alike domains such as Bi-nance.co instead of the real Binance.com.
The scammers coordinated their operations through social media, messaging apps, and fake trading platforms. If a platform asks users to move their crypto to a special pool or locked-in dashboard to earn extra bonuses, it signals a withdrawal opportunity and grounds for immediate action.
Southeast Asia has become a major center for industrial-scale scam operations, with criminal compounds in places like Myanmar and Cambodia using forced labor to run investment fraud at scale. The U.S. Department of Justice created a Scam Center Strike Force to fight Southeast Asian crypto fraud with emphasis on returning stolen funds to victims.
The suspects face charges under Section 6 of Republic Act 10175, the Cybercrime Prevention Act of 2012.
🇵🇭 Filipino Impact
The NBI raid shows authorities are actively tracking crypto scam operations using look-alike domains like Bi-nance.co. Watch for these schemes distributed via Facebook groups and Telegram where many Filipino crypto communities organize. If you've moved funds to a 'special pool' dashboard, report to the NBI Cybercrime Division immediately.
This article was written based on reporting from Radar.
