Retired Australian Cop Loses $1.2M in Thailand Crypto Nightmare

Another day, another crypto horror story—this time with a badge and a pension fund.

The Setup

A former Australian law enforcement officer just got schooled in Thai crypto economics the hard way. The lesson cost him $1.2 million—the kind of sum that makes even institutional traders flinch.

The Bait

Promised returns that'd make a DeFi yield farmer blush. Flashy dashboards, 'guaranteed' APY, the whole speculative circus. Classic red flags—if you’re paying attention.

The Sting

No slow rug pull here. One day everything’s green; the next, poof—digital ghost town. Wallet drained, signals dead, exit smoother than a central bank’s monetary policy statement.

The Fallout

Another reminder that in crypto, your keys aren’t just your coins—they’re your only line of defense. Regulation? Still playing catch-up, as usual. Due diligence? Apparently optional until it isn’t.

Welcome to the wild east of finance—where your life savings can vanish faster than a meme coin’s liquidity.

Online crypto scams on the rise 

The number of online crypto scams is on the rise globally. Last week, a scammer posed as a senior UK police officer and stole Bitcoin (BTC) worth approximately $2.8 million in Wales. Also, scammers have been targeting celebrities’ social media accounts for pump-and-dump scams. 

Last month, CertiK, a blockchain security firm noted that crypto investors lost more than $2.47 billion to hacks & scams in H1 2025, surpassing all of 2024. ethereum was the most affected chain, with $1.5B lost across 164 incidents.

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