Thai Authorities Arrest Portuguese National Linked to $580M Cryptocurrency Fraud

Thailand authorities arrested a Portuguese national on Oct. 2, 2025, who is accused of masterminding a cryptocurrency and credit card fraud scheme that stole more than $586 million.

Arrest Follows Journalist’s Tip

A Portuguese national accused of masterminding a cryptocurrency and credit card fraud operation that fleeced more than €500 million ($586 million) from victims was recently arrested in Bangkok. The suspect, whom Portuguese media identified as Pedro Mourato, 39, was apprehended on Oct. 2, 2025, at a luxury shopping mall in downtown Bangkok following a tip from a journalist vacationing in the Asian country.

According to a local report, the journalist, also a Portuguese national, alerted authorities after recognizing Mourato from past media reports. The tip led to a five-hour search by more than 10 investigators, culminating in Mourato’s arrest for overstaying his visa.

Mourato’s criminal enterprise centered on cryptocurrency investment scams and fraud, particularly involving bitcoin. Thai authorities confirmed that he also defrauded victims in Bangkok of more than $30,800 (1 million baht) shortly after arriving in the country on a tourist visa in 2023. His schemes reportedly spanned multiple continents, including Europe and Asia, involving passport forgery, credit card fraud, and crypto manipulation.

Interpol databases and some media reports link Mourato to Swiss bank accounts that allegedly circulated more than €500 million—much of it tied to fraudulent crypto investments. His operations targeted unsuspecting investors with promises of high returns on their bitcoin holdings, only to siphon funds into offshore accounts.

Thailand’s Immigration Division reportedly used facial recognition and biometric databases to confirm Mourato’s identity. Despite an earlier arrest warrant, Mourato had managed to evade detection for nearly two years by fleeing to southern Thailand and disappearing from immigration records. He never renewed his visa or registered an address.

Mourato now faces deportation to Portugal, where he is expected to stand trial for multiple charges related to cryptocurrency fraud, credit card theft, and document forgery. Thai authorities have since blacklisted him and initiated proceedings to facilitate his return.