Philippines NBI Busts Crypto Scam Operation in Manila | 15 Arrested including 1 Malaysian

Philippine authorities have dismantled a cryptocurrency investment scam operating from a condominium unit in Mandaluyong City, arresting 15 suspects including Chinese, Malaysian, and Filipino nationals.

The May 9 raid was carried out by the Philippines National Bureau of Investigation (NBI), which said the group was running an organized online fraud operation disguised as a crypto investment business. Authorities also seized multiple desktop computers, hard drives, and other electronic devices believed to have been used in the scam.

The operation was led by the NBIs Dangerous Drugs Division and Digital Forensic Laboratory Division, with support from intelligence units of the Philippine Air Force. Officials described the raid as a coordinated effort based on weeks of surveillance and intelligence gathering.

Investigators said the group had already been under investigation before the raid. Authorities were reportedly tracking a suspect known as “Boss Choi,” who was believed to be one of the operations key figures. According to the NBI, the syndicate operated from a residential apartment while targeting both local and foreign victims through online investment scams.

Fake Crypto Investment Platforms

Investigators said the group created fake cryptocurrency investment websites designed to resemble legitimate trading platforms.

Using social media and messaging apps, the suspects allegedly approached victims with promises of high returns and low risk investments. Victims were encouraged to deposit money after being shown fake profits and fabricated trading activity.

Authorities said the scam followed a common “pig butchering” model, in which victims are manipulated over time into investing increasingly larger sums of money. Once deposits were made, victims reportedly faced blocked withdrawals, fake processing issues, or sudden loss of communication with the operators.

The full amount of losses linked to the operation has not yet been disclosed.

Raid Inside Condominium Unit

Armed with court issued warrants, NBI agents raided the condominium unit on May 9.

Authorities said several suspects were found working on desktop computers during the operation. Investigators also discovered chat scripts, fake investment platform interfaces, and other materials linked to online fraud activities. The setup appeared to function as a coordinated cyber scam center operating from inside a residential building.

Among those arrested were one Chinese national, one Malaysian national, twelve Filipino men, and one Filipino woman. Investigators believe the group had assigned roles and had been operating together for an extended period.

Digital Evidence Recovered

All seized electronic devices were transferred to the NBIs Digital Forensic Laboratory for examination.

According to investigators, the devices contained large amounts of digital evidence, including scripted messages, victim communication records, and materials related to identity concealment. Authorities also found possible evidence linked to computer forgery and data manipulation offenses.

The NBI said the findings confirmed that the apartment unit was being used as an organized cyber fraud hub.

Multiple Charges Pending

The suspects are currently undergoing legal processing and investigation.

Authorities said they may face charges under the Philippines Cybercrime Prevention Act of 2012, also known as Republic Act No. 10175. Possible charges include online fraud, social engineering scams, computer related forgery, abuse of electronic devices, and assisting or facilitating cybercrime activities.

If convicted, the suspects could face significant prison terms and financial penalties.