U.S. authorities have charged two Chinese nationals accused of operating a large-scale cryptocurrency fraud operation from a scam compound in Myanmar, according to a report by Bloomberg.
The charges were announced by the U.S. Department of Justice, which alleges that the suspects were involved in managing a cyber-fraud hub that targeted victims around the world through crypto investment scams.
Prosecutors identified the defendants as Huang Xingshan and Jiang Wen Jie. Authorities say the pair helped oversee operations at a compound known as Shunda Park in Myanmar, where organized scam teams carried out fraudulent activities online.
According to investigators, the operation relied heavily on a tactic known as “pig-butchering,” a type of investment scam in which criminals build relationships with victims through social media or messaging platforms before convincing them to invest in fake crypto trading platforms.
Victims were allegedly shown fabricated profits to encourage larger deposits. Once funds were transferred, often in crypto, the scammers cut off communication and disappeared with the assets.
U.S. officials say the fraud network also involved human trafficking. Many workers operating the scams were reportedly lured to the compound with promises of legitimate employment before being forced to carry out online fraud schemes under coercive conditions.
The suspects were arrested in Thailand earlier this year on immigration-related charges and remain in custody. U.S. authorities are seeking their extradition to face prosecution in the United States.
Investigators said the broader operation is linked to hundreds of fraudulent websites and large-scale financial losses, with authorities reportedly tracing hundreds of millions of dollars connected to the scheme.
The case highlights growing concerns about cyber-fraud compounds operating across parts of Southeast Asia, where organized crime groups combine crypto scams, human trafficking, and online fraud to target victims globally.
U.S. officials say the investigation remains ongoing as authorities work to dismantle similar networks and recover funds tied to the scams.
