Four Russian nationals have been arrested in Phuket for allegedly running a ransomware operation targeting Swiss companies and stealing millions in cryptocurrency. Thai authorities, in collaboration with immigration officials, conducted the arrests, seizing over 40 pieces of evidence, including laptops, smartphones, and digital wallets.

Between April 2023 and October 2024, the suspects reportedly infiltrated the networks of 17 Swiss firms using Phobos malware, locking data and demanding ransom in cryptocurrency. Beyond this, the accused were linked to the 8Base ransomware group, which allegedly stole $16 million in Bitcoin from approximately 1,000 victims worldwide.

The operation was spearheaded by Thailand's Cyber Crime Investigation Bureau, led by Pol Lt Gen Trairong Phiewphan. The suspects were wanted by both Swiss and U.S. authorities, and Swiss officials have already requested extradition. This case adds to a string of cryptocurrency-related crimes in Phuket, a hub increasingly associated with such activities.

In a separate incident last month, a Russian man was assaulted and robbed of $20,000 in a hotel in Karon, Phuket, during a dispute over cryptocurrency debts. Earlier, in November 2024, a Ukrainian national visiting friends in Phuket was reportedly tied up and coerced into transferring $250,000 in Tether by assailants who later fled the scene. These cases highlight the mounting crypto-crime challenges facing the region.