ETO TH Scam Probe: Withdrawal Fees and THB173 Million in Reported Losses, 39 Arrested

A fake ETO TH trading app and the website eto-th[.]com were used to lure investors into an alleged stock-trading scam, Thai police said, according to The Nation. The report does not establish which legitimate business, if any, was impersonated.

High Returns, Blocked Withdrawals

Investigators said victims were approached on Facebook with promises of high returns on block-trade investments, then moved into Line groups. Accounts promoting the scheme and people posing as expert instructors helped persuade them to invest.

Money went into 13 corporate bank accounts allegedly controlled by the network. Withdrawal requests triggered demands for extra fees, but further payments still failed to release funds. Police linked the accounts to 74 cases involving reported losses exceeding THB173 million.

39 Arrests in Wider Investigation

On October 13, 2026, Thailand’s Anti Cyber Scam Center and Central Investigation Bureau announced 39 arrests and seizures exceeding THB500 million. Operation Anti-Scam Matrix covered 27 locations across 11 provinces.

Police alleged that suspected proceeds moved through bank accounts, cash transfers and USDT before being converted back into baht. They said the legally operating exchanges used for conversion were not involved in the alleged crimes. The case concerns allegations, not convictions.

Investor Reminder

Check providers’ licences and permissions with Thailand’s SEC, and verify websites and app links independently. Do not rely on group endorsements or supposed trading instructors. Consult BrokersView for further risk information before transferring funds.

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